https://www.cbc.ca/news/canada/north/
‘We are operating in a very, very difficult capital market regime right now for mining companies’
Mining companies hoping to transform exploration projects in the N.W.T. into producing mines are looking to tap into the billions of dollars the federal government announced last year to spur the development of the country’s critical minerals industry.
The federal government earmarked $3.8 billion in funding for critical minerals development in its 2022 budget. In December it released a strategy that set out broad goals for how that money will be spent.
The funding was announced at a time when mining companies, particularly those operating in the high-cost northern environment, were continuing to find it difficult to raise money in private capital markets.
“We are operating in a very, very difficult capital market regime right now for mining companies,” said Robin Goad, president and CEO of Fortune Minerals. “It’s extremely difficult to attract capital. That is one of the major challenges that’s impacting the company at this time.”
For the rest of this article: https://www.cbc.ca/news/canada/north/critical-minerals-nwt-federal-funding-1.6762461