Fortune Minerals Limited announced that it has completed two public information sessions for the environmental assessment and permitting for the Company's proposed Saskatchewan Metals Processing Plant near Saskatoon, Saskatchewan. The SMPP is a proposed hydrometallurgical process plant that will treat concentrates produced at Fortune's 100% owned NICO project in the Northwest Territories and produce high value metal products including gold doré, cobalt and copper cathodes and bismuth cathodes or ingots. Fortune Minerals is very pleased with the considerable interest shown in the project from the local communities and municipal and provincial governments and with the generally positive response to the Company's plans for its SMPP.
The information sessions were held in the communities of Dalmeny and Langham on February 7th and 8th 2011 respectively and followed the issuance of draft Project Specific Guidelines by the Environmental Assessment Branch of Saskatchewan's Ministry of Environment on January 21st 2011.
Once finalized, the PSG's will outline the requirements of the provincial environmental assessment process and identify key issues that will need to be addressed in the Environmental Impact Statement. Fortune plans to submit the EIS to SE next month. The purpose of these information sessions is to update the general public on the Company's plans for the SMPP and to address any concerns or questions prior to the submission of the EIS.
Approximately 75 people attended the meeting in Dalmeny, and there was an even larger turn out of approximately 115 people in Langham. Both sessions were also attended by representatives of the Regional Municipality of Corman Park, the mayors and members of town council of both communities, local businesses and media as well as members of the Saskatoon Regional Economic Development Authority and Enterprise Saskatchewan. Four senior staff of Fortune Minerals and representatives of MDH Engineered Solutions Inc, the Company's environmental consultant for this project were present to provide information on the project and answer questions.
The corporate presentations covered subjects including the design and operation parameters of the plant, plans for residue storage baseline environmental programs and potential impacts and mitigation plans to minimize or eliminate impacts at the site and surrounding region. Fortune Minerals staff were able to address questions concerning the proposed water source, process residue storage, air quality issues, noise, employment opportunities and overall financial benefits to the local economy.
Fortune Minerals' SMPP is proposed to be constructed on lands in the Regional Municipality of Corman Park approximately 26 kilometers northwest of Saskatoon and straddling the main northern line of the Canadian National Railway. The plant will receive approximately 180 tonnes of bulk concentrate per day from the NICO project in the NWT. These concentrates will be re ground and separated by flotation into cobalt-copper and bismuth concentrates that both contain gold. Cobalt and copper are recovered by pressure acid leach followed by neutralization and electro winning to precipitate the metals as high quality cathodes.
The bismuth is recovered by atmospheric acid leach followed by electro winning and smelting to produce cathodes and/or ingots. Residues produced from both streams will be leached with cyanide to recover the gold. Capital costs for the SMPP are estimated to be in excess of USD 200 million. There will be 85 permanent employees working at the plant, in the fields of metallurgical and chemical engineering, process technologies, tradespersons and support staff. An even larger work force will be employed for construction and indirect jobs should be 2 to 3 times the number of direct jobs in order to support the operation.
Fortune Minerals plans to maintain open communication with residents and elected officials from the communities and surrounding region throughout the environmental assessment process and also during operations. Once submitted, the EIS will be reviewed by the Saskatchewan Environmental Assessment Review Panel which may develop a deficiency statement if required. Fortune Minerals would then address any deficiencies which would allow SE to issue its Technical Review Comments. The EIS and TRC's would then be open for public review following which SE would submit their recommendations on the project along with any comments from the public, the EIS and the TRC's to the Minister for a decision on the project.
