Foran Mining’s McIlvenna Bay project receives ministerial approval

Staff Writer | July 26, 2023 | 9:31 am
Exploration • Canada • Copper • Gold • Silver • Zinc

Advanced exploration on Foran’s McIlvenna Bay project, which now has environmental approval under Saskatchewan’s Environmental Assessment Act. Credit: Foran Mining

Foran Mining (TSX: FOM) reports ministerial approval for its McIlvenna Bay project under the Environmental Assessment Act (Sask.). This marks the end of the environmental impact assessment process for the project, marking a critical permitting milestone on the way to full development.

The McIlvenna Bay copper-zinc-gold-silver project has a projected 18-year mine life, over which it could produce 65 million lb. of copper-equivalent annually, according to the company’s 2022 feasibility study.

Dan Myerson, Foran’s executive chairman and CEO, said the approval “speaks volumes about the importance of the collaborative work done … with local communities and Indigenous peoples throughout the process.”

With the ministerial approval in hand, Foran will continue with detailed engineering, procuring mining and processing equipment, installation of a permanent camp, and the continuation of advanced exploration as the company prepares and reviews the project control budget in advance of full development.