Fortune Minerals considers putting Saskatoon-area refinery plans on ice – by David Shield (CBC News Saskatoon – July 18, 2018)

https://www.cbc.ca/news/canada/saskatoon/

Mining company says businesses are talking about buying ore concentrate straight from proposed mine in N.W.T.

Plans for a controversial refinery project in the RM of Corman Park may be deferred by Fortune Minerals.

For years, the company has been talking about building a mine in the Northwest Territories that could produce ore containing cobalt, gold, bismuth and copper suplhate. The concentrated ore would then be refined at a facility near Langham, Sask., 30 kilometres northwest of Saskatoon.

However, Fortune has now said those plans might be changing. “We’ve been approached by large mining and refining companies with interest in directly purchasing the concentrate that we’d produce in the Northwest Territories,” said spokesperson Troy Nazarewicz. If that happens, the refinery wouldn’t be immediately needed.

The company said it’s crunching the numbers to see if the proposals make financial sense. According to the company, deferring the refinery would slice the project’s up-front capital costs in half, as well as lessen any risks associated with processing the material.

Despite the new development, the project is still moving forward with a zoning application that must be approved by the RM of Corman Park. Fortune Minerals also recently held an open house for residents concerned about the refinery.

For the rest of this article: https://www.cbc.ca/news/canada/saskatoon/fortune-minerals-saskatoon-refinery-deferred-1.4751960

Comments are closed.