Yellowknife, NWT – Following approval by the Wek’eezhii Land and Water Board in June, a proposed mine around 150 kilometers northwest of Yellowknife has received a green light from the G.N.W.T.
Reports say the project is expected to produce significant amounts of cobalt, gold and copper.
Ontario-based Fortune Minerals Limited has been seeking approval for several years and has already spent more than $100-million dollars developing the project.
The company is now looking to raise a further $600-million for the mine, as well as a metal processing plant in Saskatchewan.
Reports say the mine has a projected life span of around 20 years, and is expected to employ around 300 people during the construction phase and as many as 200 to run it afterwards.
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