Fortune Minerals plans Alberta cobalt refinery

The JFSL industrial web site in Alberta. Credit score: Fortune Minerals

Fortune has signed an settlement with JFSL Subject Companies to amass the positioning, northeast of Edmonton, topic to a six-month interval of extra due diligence. The hydrometallurgical refinery it plans to construct on the web site would course of concentrates from NICO and produce cobalt sulphate to be used within the manufacturing of lithium-ion batteries. 

The JFSL facility is situated on a 31-hectare brownfields piece of land in Alberta’s Industrial Heartland and adjoining to a CN rail line. 

Up to date economics

A feasibility research was accomplished for NICO in 2014; Fortune plans to replace key figures from the research to account for growth of the Alberta refinery, value escalations and revised commodity costs. The research outlined an open pit and underground venture with an preliminary capital value of round C$600 million, together with C$250 million for a refinery.

NICO has obtained environmental evaluation approval and a Kind A water licence wanted to construct and function the mine and concentrator. The latest completion of the 97-km Tlicho freeway to the close by group of Whati, alongside with a spur street Fortune plans to construct, will permit for trucking of steel concentrates from the mine to the rail head at Hay River or Enterprise, NWT.

From there, the focus can be shipped by rail to the refinery in Alberta. The corporate notes that transport prices might be saved low as a result of easy flotation of NICO ores delivers a excessive focus ratio. This may permit the mill feed to be diminished to roughly 4% of the unique mass.

The plan is in step with each Canada’s and Alberta’s plans for financial diversification within the West, value-added processing in Canada, and home provide of essential metals.

“Cobalt, lithium and nickel are all minerals with large demand within the fashionable world,” mentioned Alberta Premier Jason Kenney in a launch. “Fortune’s new refinery is strictly the kind of job creating, diversifying funding we envisioned with our mineral technique and motion plan.”

(This text first appeared within the Canadian Mining Journal)


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Written by colin

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