Canada is investing over $8 million into a Canadian company developing a tungsten-molybdenum deposit in New Brunswick.
Federal minister of energy Tim Hodgson announced this month an $8.2M investment into B.C.-born Northcliff Resources, who is behind The Sisson Project.
The Sisson Project is described as one of New Brunswick’s most promising mining developments, with the potential to become a significant source of tungsten and molybdenum.
These critical minerals are “essential to the technologies and industries that power the modern economy,” according to a statement from the government. The key minerals help produce lightweight, durable components for industrial purposes and improved performance of batteries and energy storage, for example, with additional applications across 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,” stated Hodgson. “This federal investment in the Northcliff Resources project will enable the production of these minerals and strengthen our economy.”
Minister Dominic LeBlanc says the Northcliff Sisson Project “is a significant opportunity.”
“This project will create good jobs, drive economic growth, and help position Canada as a reliable supplier of critical minerals,” he stated.
Northcliff’s chief executive officer, Andrew Ing, wants his company to become a “reliable” domestic producer of tungsten and molybdenum.
“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,” the CEO stated. “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.”
The funding is part of the broader, $4B Canadian Critical Minerals Strategy, which aims to accelerate the development of impactful mineral projects across the country and strengthen Canada’s position in global supply chains.
The funding will be directed toward a feasibility study update and engineering design on the Sisson Project, which will provide the necessary information to support a construction decision.
Northcliff was founded in Vancouver in 2010.