It’s been almost 4 decades since the former mine at Pine Point was abandoned
There could be a new Pine Point mine operating in the N.W.T. in about six years, according to the company behind the project — and many South Slave residents are looking forward to it. There hasn’t been an operational lead and zinc mine at Pine Point in almost four decades when the former mine and neighbouring community closed down and were abandoned.
The site, located between Hay River and Fort Resolution., N.W.T., is currently in the development phase. Last winter, Osisko Metals completed a five-year drilling program on site to determine the mineral resources.
Jeff Hussey, CEO of joint venture company Pine Point Mining Limited, says his company closed a deal last year with Appian Capital Advisory, a private equity firm that has agreed to finance the project until it’s “shovel ready”.
“Now we have to do feasibility work, we have to do the environmental assessment, community engagement, and continue to work through to get our permits,” he said. Hussey says they are aiming to have that work done by 2028.