A mining venture in rural New Brunswick that faced prolonged delays has finally been included in the list of significant projects following a push from the province. Prime Minister Mark Carney, speaking in British Columbia, highlighted the selection of the Sisson Mine located north of Fredericton due to its strategic value in producing tungsten and molybdenum minerals.
Premier Susan Holt expressed enthusiasm, attributing the achievement to the province’s efforts in capturing the federal government’s attention and showcasing their available resources, capabilities, and readiness to contribute to Canada’s economy and future.
Projects designated as nation-building initiatives can access various benefits such as expedited regulatory approvals, federal funding, and other forms of support aimed at expediting their progress. The Sisson Mine had previously received approvals from both the provincial and federal authorities.
The federal government had pledged $8.2 million in support for the project, with an additional $20.7 million grant from the U.S. government announced by Northcliff Resources in May. The recent budget by the Carney administration introduced a new “critical minerals sovereign fund” with $2 billion allocated over a five-year period for strategic investments.
Holt projected that the mine’s development would create 500 jobs during the construction phase and sustain 300 full-time positions once operational. The anticipated operational lifespan of the mine is 27 years, with an estimated daily output of 30,000 tonnes of tungsten and molybdenum ore.
Negotiations for an equity partnership with First Nations are ongoing between the project stakeholders, Northcliff, and the Todd Group, while preparatory work at the site is scheduled to commence in the upcoming year. Northcliff expressed readiness to advance the project following the announcement from Prime Minister Carney.
Holt emphasized the province’s commitment to collaborating with elected chiefs in negotiating agreements in a spirit of open communication. She underscored the historical significance of mining in New Brunswick and emphasized the timeliness of advancing the Sisson Mine project.
The province is seeking federal assistance in establishing an offtake agreement and implementing a price floor for the minerals to attract more investments and secure the resource’s value. Environmental conditions and community support from previous years are being revisited, with Holt mentioning the province’s intent to extend deadlines for meeting regulatory requirements.
The projected economic benefits from the Sisson Mine include an estimated $280 million in royalties and $245 million in tax revenue, with updated figures pending discussions with Northcliff to determine the impact of resource prices on revenue projections.