The Agua Rica mineral reserve is estimated to contain 4.5 million tonnes of copper and 6.5 million ounces of gold contained in approximately 910 million tonnes of ore.
The Government of Canada is investing in projects that will support resource development in an area where the territory's three operating diamond mines are located.
In 2019, Sherritt's Moa JV is expected to produce between 31,000 and 33,000 tonnes of finished nickel and between 3,300 and 3,600 tonnes of finished cobalt.
Canada's mining sector is going through dramatic change, but the industry remains bullish on growth, and miners increasingly believe innovation and advances in technology will reshape the industry.
The companies envision an investment from Glencore that will help fund construction in exchange for offtake of production of four million tonnes of iron ore a year.