Fortune Minerals Limited

MiningOntario, Canada11-50 Employees

Fortune Minerals Limited is a Toronto Stock Exchange listed company (TSX:FT) also traded in the U.S. (OTCQB:FTMDF) and based in London, Canada.  Fortune is focused on development of its 100% owned, vertically integrated NICO cobalt-gold-bismuth-copper critical minerals project, comprised of a planned open pit and underground mine and concentrator in the Northwest Territories and a dedicated hydrometallurgical facility near Edmonton, Alberta where the Company will process concentrates from the mine, and other feed sources, to value-added critical mineral products for the energy transition, new technologies and defence.  

The NICO Mineral Reserves contain three critical minerals (cobalt, bismuth and copper), plus more than one million ounces of in-situ gold as a highly liquid and countercyclical co-product.  The hydrometallurgical facility will produce cobalt sulphate for the lithium-ion rechargeable battery industry and support their use in electric vehicles, portable electronics and stationary storage cells.  The NICO deposit also contains 12% of global bismuth reserves, a metal with unique properties needed in automotive glass and steel coatings, low melting and dimensionally stable alloys, fire suppressant systems, and pharmaceuticals.  Consumption of bismuth is increasing as a non-toxic and environmentally safe replacement for lead in brass, solders, free-machining steels and aluminum, radiation shielding and ammunition, permanent magnets, and also high-speed semiconductors and solders needed in AI data centres, supercomputers, and weapons systems.

The economics for the NICO Project are being assessed in an updated Feasibility Study.  The Northwest Territories facilities have their environmental assessment approval and the major mine permits.  Fortune also owns the Sue-Dianne copper satellite deposit located 25km north of NICO and is a potential future source of incremental mill feed to extend the life of the NICO concentrator.

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