Statement from Minister Ranj Pillai on strategic tungsten investment

Minister of Economic Development Ranj Pillai has issued the following statement:

“On June 7, 2022, Fireweed Zinc signed a binding letter of intent with the Government of Northwest Territories to acquire the Mactung Tungsten Project. I congratulate Fireweed Zinc on their strategic investment in one of the largest tungsten deposits in the world. 

“The potential development of a Canadian tungsten property of this magnitude is an achievement and this addition to Fireweed Zinc's suite of critical mineral properties holds great potential to enhance the economies of both the Yukon and Northwest Territories.  

“The outlook for critical mineral development in Canada’s North is very positive. Critical minerals are an essential resource in development of clean energy and many of them are found here in the Yukon. Tungsten is used in mining, industrial industries, automotive and aerospace applications. Mineral exploration and development help advance the clean energy transition and combat climate change. 

“Once again, congratulations to Fireweed Zinc and CEO Brandon Macdonald on this significant acquisition. I would also like to thank to the Government of the Northwest Territories for their commitment to advancing the northern mining industry and providing new opportunities to residents of the North.”