14 August 2019
MMG Limited welcomed the commitment from the Canadian National Trade Corridors Fund to commit CAD $21.5 million to the design, permitting and development of the Grays Bay Road and Port (GBRP) Project.
The funding from the Canadian Government’s National Trade Corridors Fund will be used to advance the design, permitting and feasibility of the project to ‘shovel-ready’ stage. The road and port represent critical infrastructure to open up access to the Greenstone belts of the Slave Geological Province, which host MMG’s Izok and High Lake deposits. The funding adds to the $7.25 million already committed by Inuit Representative Group, Nunavut Tunngavik Inc (NTI).
“On behalf of MMG, I would like to extend my sincere thanks to the Canadian Government for committing their support and funding and my congratulations to the Kitikmeot Inuit Association and all the people of Nunavut on this announcement”, said MMG CEO, Geoffrey Gao. “Road and port access is the key to unlocking the Izok Corridor, hosting some of the world’s most attractive undeveloped zinc and copper deposits.
“Together, the Grays Bay Road and Port and the Izok Corridor Project, could bring tremendous opportunities for Canadians to build and operate these projects, and will enhance economic growth and social development in Nunavut and the Northwest Territories,” Gao said.