Canada invests $70m in Seymour Lake lithium project in Ontario
The lithium mine operated by Australia's Green Technology Metals could become the province's first lithium producer.
Vancouver-based Pure Gold Mining (TSXV: PGM) and the First Nations of Wabakuskangand Lac Seul have inked a project agreement with respect to the Madsen Red Lake gold mine in Northern Ontario. The agreement establishes a long term, mutually beneficial partnership between Pure Gold and the First Nations.
Highlights of the agreement include confirmation that the First Nations will collaborate with Pure Gold in support of the operational permitting process for the mine an subsequent regulatory authorizations. It also establishes a foundation for employment, contracting, education and training opportunities. The mining company is committed to sustainable development, environmental protection, and environmental monitoring.
Pure Gold has also agreed to issue 100,000 common shares to each First Nation, and the company will make future financial contributions based on gold production.
(This article first appeared in the Canadian Mining Journal)
