Fortune advances Nico cobalt-gold project as cash hurdle looms
Geopolitics · Mining.com ·
Fortune Minerals plans to publish an updated feasibility study for its long-delayed NICO cobalt-gold-bismuth project in Canada's Northwest Territories, eyeing a construction decision ahead of a 2027 build. The company has secured more than $21 million in non-dilutive government funding, including from the US Department of Defense and Natural Resources Canada, but its CEO says raising the larger project financing remains the biggest hurdle. NICO is the world's largest bismuth deposit and a potential North American source of cobalt - both critical minerals.