An earn-in venture with Glencore (LSE: GLEN) that’s set to close later this year is to give Nuvau Minerals (TSX: NMC) control of the historical Matagami Mining Camp in Quebec.
Gaining the Matagami Lake project and its 3,000-tonne-per-day processing plant, about 800 km north of Montreal, allows Nuvau to restart production without delay, CEO Peter Van Alphen said. The company plans to continue drilling on its 1,300 sq. km land package.
“One of the things which is maybe not the sexiest thing in this — but it’s a huge value driver for us — is the fact that we will complete the earn-in with Glencore,” Van Alphen said early this month at the PDAC event in Toronto.
The agreement de-risks the project, he said, while the processing plant remains permitted. This lowers upfront investment and supports the company’s exploration and restart plans.
Watch the full interview below with The Northern Miner western editor, Henry Lazenby. Joint venture videos are paid-for content in arrangement with The Northern Miner.
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