The next batch of Canadian mining projects due for federal fast-tracking includes Northcliff Resources’ (TSX: NCF; US-OTC: NCFFF) tungsten proposal in New Brunswick, Nouveau Monde Graphite (NYSE: NMG; TSX.V: NOU) in Quebec and Canada Nickel (TSXV: CNC: US-OTC: CNIKF) in Ontario, according to CBC News on Wednesday.
Prime Minister Mark Carney is due to announce the full list on Thursday in Prince Rupert, B.C. That’s the site of a liquid natural gas project the CBC said is also being added to the Major Projects Office. The office was formed in August to speed nation-building infrastructure through permitting. CBC Radio didn’t say how it acquired the new names.
Northcliff Resources has the Sisson tungsten-molybdenum project with estimated capital cost in a 2013 feasibility study of $579 million for an open-pit mine, concentrator and on-site ammonium paratungstate plant. The project already has major federal and provincial approvals. New Zealand’s Todd Corp., based in Wellington, is Northcliff’s controlling shareholder with about 12% of Northcliff.
Nouveau Monde is advancing the Matawinie mine and Bécancour battery material plant, both of which are within 150 km of Montreal. The open pit mine is expected to produce 103,000 tonnes of graphite a year over the course of 25 years, the company has said. Federal and provincial funds each granted $25 million to the roughly $1.2-billion capex project a year ago.
Star report
Crawford, already touted as a strong contender on Tuesday by the Toronto Star for the new list, is said to hold the world’s second-largest nickel reserves and resources. It would cost US$3.5 billion over two stages, according to a feasibility study from October 2023. Over a 41-year life, the mine would produce 3.5 billion lb. of nickel, 52.9 million lb. of cobalt, 490,000 oz. of palladium and platinum, 58 million tonnes of iron, and 6.2 million lb. of chromium.
In September, Carney announced the first series of projects being referred to the office for consideration. Those included two copper mines, Foran Mining’s (TSX: FOM; US-OTC: FMCXF) McIlvenna Bay copper mine project in Saskatchewan and the Red Chris copper and gold mine expansion in B.C. Red Chris is owned by Newmont (NYSE: NEM; TSX: NGT)and Imperial Metals(TSX: III).
The Major Projects Office aims to develop domestic transportation infrastructure, electricity, critical minerals and energy as Canada pivots away from relying on the United States as a solid trade partner. Veteran Canadian mining investor Pierre Lassonde evaluates Carney’s efforts in this Northern Miner interview out today.
Tungsten
Vancouver-based Northcliff’s Sisson project near Stanley in central New Brunswick would produce 557,000 tonne units (mtu) of tungsten trioxide (WO₃), which corresponds to about 441,000 mtu of pure tungsten metal equivalent.
Output would include 4.1 million lb. molybdenum in concentrate, with higher tungsten output averaging 689,000 mtu WO₃ in the first five years. Mill throughput was pegged at 30,000 tonnes per day over a 27-year mine life.
The U.S. Department of Defense awarded US$15 million to Northcliff under its Defence Production Act Title III program on May 1. Natural Resources Canada followed in August with C$8.21 million under its Global Partnerships Initiative.
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Nouveau Monde’s Matawinie mine is among the priority projects that the federal government singled out last month when it unveiled plans to support more than 20 new investments. Ottawa was one of several parties to sign an offtake arrangement with Nouveau Monde, Natural Resources Canada said Oct. 31 without elaborating.
The company signed offtake agreements in February last year with General Motors (NYSE: GM) and Panasonic Holdings, which each made $25-million equity investments. At the time, Nouveau Monde announced funding of US$87.5 million, including US$12.5 million from London-based private equity shop Pallinghurst Resources and US$25 million from Japan’s Mitsui & Co. to be used to repurchase their previously announced convertible notes.
Nouveau Monde said then it aimed to raise US$1.2 billion to build the whole project, with US$725 million coming from debt and US$475 million from equity. The Montreal-based company aims to become North America’s first fully integrated source of natural graphite active anode material.
LNG
Ksi Lisims LNG, a proposed liquefied natural gas export terminal at Wil Milit on Pearse Island off B.C.’s northwest coast, is being advanced by a partnership of the Nisg̱a’a Nation, Rockies LNG Partners and Western LNG. It plans for up to 12 million tonnes per year of exports and supply via the Prince Rupert Gas Transmission pipeline.
The project targets low emissions intensity through electrification and hydropower, and received B.C. provincial environmental approval in September amid mixed First Nations consent.
CBC Radio also mentioned that an energy project in Iqaluit by a Nunavut-based clean energy developer would be on the fast-track list. The company plans to revive a hydroelectric plant proposal to replace the diesel generated power the city relies on. Ottawa granted the project $6 million earlier this year.
