Tłı̨chǫ Government and Fortune Minerals are forming a joint venture to pursue up to $50 million in federal funding for a road connecting the proposed Nico mine to the Tłı̨chǫ Highway northeast of Whatì.
The proposed spur road is considered essential before production can begin at the Nico project, which contains bismuth, cobalt, gold, and copper deposits. The partners plan to apply for support through Canada’s Critical Minerals Infrastructure Fund.
Tłı̨chǫ Grand Chief Jackson Lafferty described the partnership as an important first step toward meaningful Tłı̨chǫ participation in critical minerals development projects. He said the road project could create long-term economic benefits for Tłı̨chǫ citizens and the broader region.
Fortune Minerals is still seeking financing to move the Nico mine into production and recently completed a public regulatory hearing related to a new water licence and potential environmental impacts.
The company is also pursuing funding from the U.S. Department of Defense to support North American bismuth supply chains. Fortune has described Nico as the world’s largest bismuth deposit and now considers bismuth the project’s most commercially valuable resource.
