Fortune Minerals Limited and the Tlicho Government have signed a co-operative relationship agreement for the NICO gold-cobalt-bismuth-copper project in Canada’s Northwest Territories.
The agreement declares that the Tlicho Government and Fortune Minerals “wish to develop a co-operative relationship through which they will attempt to reach mutually beneficial agreement on matters affecting their respective interests.” It establishes the framework for further negotiations, defines primary liaison officials, and sets the communication protocol for the two parties.
The NICO project is located 160 km northwest of the City of Yellowknife and 50 km north of the Tlicho community of Whati. The 31 million tonne deposit would be developed using a combination of open pit and underground mining methods with ores projected to be processed at the rate of 4,650 tonnes per day in a mill at the site over an 18-year mine life.
Other facilities that are proposed at the site include a camp to accommodate employees working on a rotation basis, ancillary buildings and a 27 km all-season access road. The mill is proposed to produce approximately 180 tonnes of bulk concentrate per day for shipment south to the company’s proposed hydrometallurgical refinery near Saskatoon for further processing.
“The signing of this agreement expands on our existing long-term relationship with the Tlicho Government and the Tlicho people”, said Fortune Minerals President, Robin Goad. “The agreement lays the foundation for discussions on fundamental topics of interest such as the possible environmental and cultural impacts of the NICO Project on Tlicho owned lands.”
Grand Chief Eddie Erasmus said “This agreement provides the resources for the Tlicho Government to collect knowledge critical to understanding the impacts of this project. It also provides resources to ensure the robust engagement of the Tlicho Government in the regulatory process.”
