Rebuilding team for NICO development as public highway to Whati & cobalt market advance
Fortune Minerals Limited Mining News
The AAJV partners maintain the exclusive right to purchase back the coal licenses at the same price for a 10-year option period. If both partners do not wish to exercise the repurchase option, each of them may do so individually.
The government of Canada's British Columbia, has hit the pause button on a high-grade anthracite coal mine proposed by Fortune Minerals Limited in the northwest part of the province.
The company is currently waiting for its Land Use Permit and Class A Water License from the Wek'èezhìi Land and Water Board of the Northwest Territories.
Car maker Tesla prefers suppliers in North America for its $5 billion lithium-ion battery "gigafactory" in the southwest US which could provide a boost for Fortune Minerals proposed refinery near Saskatoon .
Canada should allow more private ownership of mineral rights, particularly from First Nations, says the Fraser Institute latest report.
If all goes as planned, junior miner Fortune Minerals will operate three projects in Canada in the foreseeable future.
The company jumped nearly 18% to trade at 43 cents per share on the Toronto exchange on Tuesday.
B.C. saw several projects expand, as well as new mines to begin construction, which drove job creation. But mining also faced opposition and labour shortage.
On route to becoming the country's first aboriginal-owned company to operate a mine.
"It is our sincere hope that this show of good faith by Fortune will help bring resolution to issues at and near our Arctos project site including any protests."
One of the largest metallurgical coal deposits on earth could soon be producing coal for export, thanks to London, Ontario-based Fortune Minerals Limited (TSX-FT). Fortune recently signed a joint venture agreement with POSCO, the third largest steelmaker, whereby POSCO will pay 20% of the capital costs in developing Fortune's Mount Klappan anthracite coal deposit, located in northwest British Columbia, Canada
Fortune Minerals Limited is pleased to announce the appointment of Mr. Jared Orynik, P.Eng, as Senior Metallurgist for the Company's proposed Saskatchewan Metals Processing Plant to be built near Langham, 30 km west of Saskatoon. […]