Separately, the company has been awarded $6.38 million by the US Department of Defense to expand the capacity and production of cobalt for the battery and high-strength alloy supply chain. This grant was delivered under the Defense Production Act Title III program.
The total amount of non-dilutive funding that Fortune expects to receive is C$16.2 million ($12 million). This important cross-border initiative, says the company, is aligned with the Canada-US joint action plan on critical minerals.
“The demand for critical minerals needed for the energy transition requires new vertically integrated domestic production from non-traditional ores and concentrates. Bi-lateral Canadian and US government investment is therefore important to align mineral production with changes in new technologies, ensure security of supply, and support North American industrial competitiveness,” Fortune CEO Robin Goad stated.
Shares in Fortune Minerals…
