A mining project in rural New Brunswick that faced delays has been added to the list of major projects due to the province’s strong advocacy efforts. Prime Minister Mark Carney, speaking in British Columbia, highlighted the strategic significance of the Sisson Mine, located north of Fredericton, for its potential production of tungsten and molybdenum.
Premier Susan Holt expressed enthusiasm following the announcement, attributing it to the province’s persistent efforts to showcase its resources and readiness to contribute to Canada’s economy. Designated nation-building projects like this one receive benefits such as expedited regulatory approvals, federal funding, and other forms of support to facilitate their progress.
Both the provincial and federal governments had previously approved the project. Ottawa pledged $8.2 million in support, and Northcliff Resources, the project’s proponent, received $20.7 million from the U.S. government for development advancement. The recent budget introduced by the Carney administration included a new fund of $2 billion over five years for critical minerals investments.
Holt highlighted that the Sisson Mine is expected to create 500 construction jobs and 300 permanent jobs, with a projected mine lifespan of 27 years and a daily production capacity of 30,000 tonnes of tungsten and molybdenum ore. Initial groundwork is set to commence soon, with ongoing negotiations for an equity partnership with First Nations.
Northcliff Resources welcomed Carney’s announcement and confirmed their progress on project studies. Holt emphasized the importance of collaborating with elected chiefs for a mutually beneficial agreement. She underscored the historical significance of mining in New Brunswick and emphasized the project’s timeliness.
The province aims to secure an offtake agreement and advocate for a government-set price floor to attract investments and ensure resource value. Environmental conditions set during the project’s approval will be monitored, with potential extensions granted for compliance. Community support, previously obtained in 2014 and 2017, has been reaffirmed, with estimated revenues of $280 million in royalties and $245 million in tax revenue dating back to 2017, subject to resource pricing fluctuations. Discussions with Northcliff are ongoing to refine revenue estimates based on current market conditions.