Fortune Minerals Limited
Other OTCCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.- CEO
- Robin Ellis Goad
- Full Time Employees
- 3
- Sector
- Basic Materials
- Industry
- Industrial Materials
- Address
- 617 Wellington Street London ON United Kingdom N6A 3R6
- IPO Date
- Jun 9, 2010
- Website
- fortuneminerals.com
- Similar Companies
- Business
- Fortune Minerals Limited is a Canadian development stage mining company specializing in the exploration, development, and production of specialty metals, base metals, and precious metals, with a focus on cobalt, gold, bismuth, copper, silver, lead, and zinc deposits. The company’s primary asset is the vertically integrated NICO project located in Canada’s Northwest Territories, which includes a proposed mine and mill designed to produce bulk concentrates of cobalt-gold-bismuth-copper. These concentrates are planned to be shipped to a hydrometallurgical facility the company intends to construct in Alberta, enabling Fortune Minerals to become a North American producer of cobalt chemicals, bismuth ingots, gold doré, and copper cement. Additional assets include the Sue-Dianne copper-silver-gold deposit and the Salkeld Lake exploration property in the Northwest Territories. Founded in 1988, Fortune Minerals is headquartered in London, Canada. Recent major developments include advancing the NICO cobalt-gold-bismuth-copper project toward a construction decision projected for late 2026, supported by strategic government funding from both Canadian and U.S. sources including the U.S. Department of Defense to accelerate project development. The company has secured a binding offer to purchase the refinery site in Lamont County, Alberta, which will house the hydrometallurgical processing facility, reducing development risks and strengthening its vertically integrated production capabilities. Fortune Minerals is also engaged in collaborations with industry partners such as Rio Tinto to optimize process and feasibility studies. The NICO project aims to supply cobalt sulfate for lithium-ion batteries compliant with North American regulatory incentives like the U.S. Inflation Reduction Act, supporting domestic supply chains for critical minerals essential to the energy transition and defense sectors. Fortune Minerals targets the critical and precious minerals market by producing cobalt chemicals, gold, bismuth, and copper products primarily serving the lithium-ion battery industry and other high-technology sectors. The company’s operations and projects are concentrated in Canada with an emphasis on supporting North American supply security. It holds a commitment to sustainable and responsible resource development, aligning with industry and governmental initiatives to foster competitive and clean critical minerals value chains. The company employs a strategic approach to integrate mining, milling, and refining operations to maximize value and mitigate price volatility through the production of a countercyclical gold co-product. Fortune Minerals Limited operates within the materials sector under the mining industry, maintaining a lean workforce focused on exploration and project advancement. It continues to engage in financing strategies to secure capital necessary for moving the NICO project and associated facilities into production-ready stages, signaling a strategic shift toward becoming a vertically integrated critical minerals producer in North America.
Fortune Minerals Completes Cobalt Sulphate Test Work
Fortune Minerals Announces Additional Government Support to Help Purchase the NICO Alberta Refinery Site
Fortune Minerals Retains P&E Mining Consultants Inc. to Prepare the New Reserve Estimates, Mine Plan & Production Schedule for the Updated NICO Project Feasibility Study
Fortune Minerals Announces David Massola Has Rejoined the Company as Vice President Business Development
Fortune Minerals Announces New Convertible Security Agreement With the Lind Partners
Fortune Minerals Announces Results of Annual Meeting of Shareholders
Fortune Minerals Reports Successful NICO Project Bismuth Test Work Results for the Planned Alberta Refinery
Fortune Minerals Provides NICO Project Commodity Update
Fortune Minerals Provides an Update of NICO Project Test Work, Rio Tinto Process Collaboration & Feasibility Study
Fortune Minerals Announces Second Draw From Convertible Securities Agreement With The Lind Partners
Fortune Minerals Retains Worley to Update the NICO Project Feasibility Study and Alberta Site Permitting
Fortune Minerals Announces Results of Annual Meeting of Shareholders
Fortune Minerals Enters Into Convertible Securities Funding Agreement for up to C$10 Million With Lind Partners
Fortune Minerals Announces Government of Canada Funding for the NICO Critical Minerals Project
Fortune Minerals Announces U.S. Government Funding to Accelerate the NICO Critical Minerals Project Development
Fortune Minerals Announces Arrival of Samples at SGS Canada in Lakefield, Ontario for Metallurgical Testing
Fortune Minerals Extends Option to Acquire Alberta Refinery Site for the NICO Critical Minerals Project
Fortune Minerals Announces Government Funding to Advance the NICO Critical Minerals Asset in Canada
Fortune Minerals and Rio Tinto join forces to expand production of critical minerals cobalt and bismuth
Fortune Minerals Extends Option to Acquire JFSL Alberta Refinery Site for the NICO Critical Minerals Project