Arctos Anthracite Project (formerly Mount Klappan Anthracite Metallurgical Coal Project)
This project has recently undergone a name change from Mount Klappan Anthracite Metallurgical Project to Arctos Anthracite Project. The Arctos project is one of the largest undeveloped deposits of metallurgical coal in the world.
About This Project
Fortune Minerals Limited (TSX: FT) is focused on the development of high quality mineral resource projects in Canada with the potential to generate strong returns for its shareholders. Fortune has two advanced stage projects, including the Arctos Anthracite Project. Arctos has been assessed in positive definitive feasibility studies, and has been test mined and pilot plant processed.
Arctos is in the environmental assessment process for the development of an initial 3 million tonne-per-year mine and process plant, and for the expansion and upgrade of the railway to Ridley Terminals in Prince Rupert. Further, Fortune Coal (A wholly owned subsidiary of Fortune Minerals) has formed a joint venture with POSCO Canada Ltd (POSCAN) and its wholly-owned subsidiary, POSCO Klappan Coal Ltd., to advance the Arctos Anthracite Project.
POSCO is based in South Korea and is one of the world's largest steel producers. The joint venture will be 80% owned by Fortune and 20% by POSCO and will accelerate the development of Arctos by combining Fortune's local development and operations expertise with POSCO's market knowledge and financial backing.
When operational, Fortune Minerals will employ 500 employees directly to operate the mine.
More Information Online
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