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| Fortune |
Fortune Minerals, a Canadian mine developer, has announced a significant breakthrough in bismuth extraction technology, successfully proving the feasibility of recovering bismuth from copper waste streams at Rio Tinto's Kennecott smelter in Utah. This achievement validates the company's planned hydrometallurgical process for its Lamont County, Alberta facility.
This facility is integral to Fortune's NICO project, located approximately 160km northwest of Yellowknife in the Northwest Territories, where the company intends to process both bismuth and cobalt. Fortune Minerals has secured crucial regulatory approvals for both the NICO mine and the Alberta facility, including environmental assessment approval, major mine permits, and municipal planning approvals.
NICO Project's Resource Potential:
The NICO project boasts substantial mineral reserves, with 33.1 million metric tonnes (t) of proven and probable reserves. This includes 36,741t of cobalt, 45,580t of bismuth, and 12,143t of copper. The deposit is estimated to have a 20-year mine life and contains a significant portion of global bismuth reserves, representing approximately 12%.
Sustainable Resource Recovery:
Fortune Minerals' demonstrated ability to extract bismuth from copper waste streams aligns with the growing emphasis on sustainable mining practices and resource recovery. Utilizing waste materials not only enhances resource efficiency but also reduces the environmental footprint of mining operations. The application of this technology at the Lamont County facility will enable the company to maximize the recovery of valuable metals from the NICO deposit.
This advancement positions Fortune Minerals as a key player in the bismuth and cobalt market, contributing to the supply of critical minerals for various industries, including electronics, pharmaceuticals, and renewable energy technologies.
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