The Town of Hay River has signed a new memorandum of understanding (MOU) with Pine Point Mining Limited in hopes of restarting the nearby Pine Point lead and zinc mining project. 

SA国际影视传媒淭he Pine Point mine presents an exciting opportunity to significantly benefit residents and businesses of Hay River,SA国际影视传媒� said Hay River Mayor Kandis Jameson, who recently began her third term. SA国际影视传媒淥ur town council looks forward to working closely with Pine Point Mining Ltd. to maximize the economic potential of the project while thoughtfully considering all aspects of community impact.SA国际影视传媒�

Pine Point Mining Ltd. (PPML) is a joint venture between Montreal-based firm Osisko Metals Incorporated and Appian Natural Resources Fund, a UK-based private equity firm specializing in the mining sector.

The mine sits on the south shore of Great Slave Lake, between Hay River and Fort Resolution, and produces minerals called sphalerite and galena, which are ores of zinc and lead, respectively. Thanks to mining activity from decades ago, the site already features on-site power, paved highway access and 100 kilometres of haulage roads SA国际影视传媒� and it ostensibly still has a lot to give in terms of resources. 

In 2020, Osisko facilitated a preliminary economic assessment that provided a "solid indication that the extensive shallow mineralization remaining on the property can be produced and a long-lasting mine be developed," according to the company's website. 

SA国际影视传媒淧PML is committed to fostering positive and constructive relationships with communities with the aim of facilitating a positive impact from our mine development project and potential future mining operations for long-term sustainable growth for all communities impacted by our project,SA国际影视传媒� said Jeff Hussey, the joint venture's CEO. 

The newly-signed MOU is intended to drive discussions between the two parties and advance the development of the project, which could be "huge for the region, not just Hay River," Jameson told SA国际影视传媒 recently. 

The agreement between the two parties has the support of Karen Costello, executive director of the NWT and Nunavut Chamber of Mines.

"The MOU is a clear commitment of the company to work with the community," she told SA国际影视传媒. "Having those discussions now is an important part of the company's ongoing feasibility study, expected to be complete in 2025.

"The conditions for Pine Point coming back as an operating mine are very favourable," she added. "Zinc is a metal needed to support the global energy transition, there is a substantial mineral resource with upside potential, and it is located in an area proximal to key infrastructure."

Along with the signing of the MOU, PPML is hosting two "town hall" meetings to engage with the communities involved in the Pine Point project. The first meeting is set for Nov. 5 at the recreation centre in Hay River. The second is planned for Nov. 25, at Yellowknife's Tree of Peace Friendship Centre. 

Additional dates will be announced for other communities in the near future, according to the company.