Tim Hodgson, Minister of Energy and Natural Resources, announced a federal investment of $8.2 million through the Global Partnerships Initiative (GPI) to Northcliff Resources (Northcliff), a Canadian company developing a tungsten-molybdenum deposit in New Brunswick through its Sisson Project. The funding is part of the broader Canadian Critical Minerals Strategy, which aims to accelerate the development of key mineral projects across the country and strengthen Canada’s position in global supply chains. The funding will be directed toward the feasibility study update and engineering design, which will provide the necessary economic and technical information to support a construction decision on the Sisson Project.The federal government says that the Sisson Project is a promising mining development, with the potential to become a significant source of tungsten and molybdenum and a driver of regional economic growth. These key minerals help produce lightweight, durable components for industrial purposes and the improved performance of batteries, used in energy storage and other renewable energy systems. They are also reportedly critical to the defence and aerospace industries.“Canada is a global leader in providing the responsibly sourced critical minerals essential for energy, digital technologies and national defence. This federal investment in the Northcliff Resources project will enable the production of these minerals and strengthen our economy and security while creating good jobs in New Brunswick — a win-win for the province and the entire country,” said Tim Hodgson, Minister of Energy and Natural Resources.“The Canadian government is making investments to ensure that the minerals are available to support newly developing technologies as well as maintain security of supply and North American industrial competitiveness. Northcliff has the opportunity to contribute to these key objectives by becoming a reliable, easily accessible, domestic producer of two critical minerals — tungsten and molybdenum. We appreciate this important funding from the Canadian government to help advance the Sisson Project and develop a domestic and resilient supply chain for critical minerals,” said Andrew Ing, Chairman, President and CEO, Northcliff Resources. (ICE TORONTO)

Fonte notizia: https://www.canadianmanufacturing.com/