The Honourable Jonathan Wilkinson, Canada’s Minister of Energy and Natural Resources, has announced that Foran Mining has been conditionally approved for an investment of up to C$20 million ($14 million) through the Critical Minerals Infrastructure Fund (CMIF), a key program under the Canadian Critical Minerals Strategy.
The funding will enable the construction of a hydro transmission line to connect to clean hydroelectricity, an on-site substation and electrical vehicle charging infrastructure at Foran’s McIlvenna Bay project, with the goal of fully electrifying the mine. This infrastructure will support the development of the McIlvenna Bay site targeting carbon-neutral copper production, supporting Saskatchewan’s position as a premier mining jurisdiction.
Dan Myerson, CEO and Executive Chairman, Foran Mining, said: “We are proud to advance the McIlvenna Bay project with the support of the Government of Canada. The investment in developing a hydro transmission line and supporting infrastructure will deliver renewable hydropower to our operations and open up a new critical minerals and mining district in Canada for generations to come — a key step in our plan to achieve net-zero carbon-copper production.
“This funding not only supports sustainable resource development but also drives economic growth, job creation and responsible mining practices in Saskatchewan, helping Canada solidify its leadership in critical minerals and clean energy.”
Wilkinson added: “In its drive to produce copper without polluting more, Foran’s project will help reinforce Canada’s position as a global supplier of choice for clean technology, clean energy and the resources the world needs to build a prosperous economy. Foran and many other businesses in Saskatchewan and beyond know that, moving forward, economic development and environmental sustainability must go hand in hand.”
The 2022 feasibility study on McIlvenna Bay outlined a 4,200 t/d operation over an 18.4-year mine life, able to produce an average annual production of 33,000 t of copper-equivalent output over the first 15 years of mine life. By individual metal, this equates to 17,600 t of copper, 28,900 t of zinc, 20,000 oz of gold and 486,000 oz of silver.
When Sandvik announced its fleet order with Foran Mining in 2022 – its largest BEV order at the time – it was to include seven Sandvik 18-t-payload LH518B loaders, six Sandvik 50-t-payload TH550B trucks, four Sandvik DD422iE jumbo drill rigs, two Sandvik DL422iE longhole drills and one Sandvik DS412iE mechanical bolter. Delivery of the equipment was scheduled to begin in 2023 and continue into 2025, Sandvik said.