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Fortune Minerals Completes Acquisition of JFSL Alberta Refinery Site for the NICO Project

Aug 19, 2024•over 1 year ago

Acquiring Company

Fortune Minerals

Acquired Company

JFSL Field Services ULC

LondonLamont CountyMineralMiningMineralMiningConstruction

Description

Fortune Minerals Limited has successfully entered into a new option agreement to acquire the brownfield industrial site in Lamont County, Alberta from JFSL Field Services ULC. This strategic move aims to construct a hydrometallurgical refinery (“Alberta Refinery”) to process metal concentrates from the NICO cobalt-gold-bismuth-copper mine and concentrator, reinforcing Fortune’s commitment to providing a reliable domestic supply of Critical Minerals for the energy transition and other new technologies.

Company Information

Company

Fortune Minerals

Location

London, Ontario, Canada

About

Fortune is a Canadian mining company focused on developing the NICO Cobalt-Gold-Bismuth-Copper Project in the NWT and Alberta. Fortune also owns the satellite Sue-Dianne Copper-Silver-Gold Deposit located 25 km north of the NICO Deposit and is a potential future source of incremental mill feed to extend the life of the NICO mill and concentrator.

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M&A Insights

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Integration timeline
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Tech stack consolidation
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Post-acquisition investment
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