Joint Venture with Tłıchǫ Government Planned
Fortune Minerals Limited has obtained crucial permits from the Wek’èezhìı Land and Water Board to construct the NICO Project Access Road in the Northwest Territories. This development, announced on May 14, 2026, aims to connect the NICO Mine to the territorial highway system at Whati, which is 50 kilometers south of the mine.
The NICO Project Access Road is essential for transporting metal concentrates to Enterprise, NWT, for rail transfer to Fortune's planned hydrometallurgical facility in Alberta. This project represents a significant infrastructure development for the planned cobalt-gold-bismuth-copper mine, enhancing regional connectivity and economic potential.
Fortune Minerals is collaborating with the Tłıchǫ Government to form a joint venture. This partnership aims to explore funding opportunities for the road construction, which may later extend to Gameti. Such an extension could improve community access, reduce living costs, and promote economic opportunities in the central part of Tłıchǫ territory.
Advancements in Permitting and Environmental Studies
Fortune has completed public hearings for the renewal of the NICO Mine Land Use Permit and Water License, held on April 21 and 22 in Whati. The company is currently responding to inquiries from these hearings and anticipates receiving a draft Water Licence soon. Closing arguments are scheduled for June 22 and June 29, 2026, for reviewers and Fortune, respectively.
The company recently concluded baseline environmental studies for its Alberta facility, focusing on geotechnical, soils, wetland, and wildlife surveys. These studies are crucial for the Environmental Impact Assessment exemption application and forthcoming operations permits, demonstrating the company's commitment to mitigating potential impacts.
Fortune is also applying for a 60-day extension on the current Water License, which is due to expire on July 22, 2026. The Wek’èezhìı Land and Water Board is expected to make a recommendation to the NWT Minister of Industry Tourism and Investment in July or August 2026.
Meanwhile, Fortune is advancing permitting for the Alberta hydrometallurgical facility, incorporating environmental considerations into its design. This approach aims to reduce permitting delays and ensure compliance with regional air quality models for its Environmental Impact Assessment.
