Mr. Speaker, selling the Mactung deposit together with the Cantung mine will increase the potential viability of the renewed mining operations. That said, we are looking to get more than just the cash payment or a return on the baseline. We are looking to capitalize on the rise of the tungsten prices to translate these world-class resources into good-paying jobs. We believe there is an opportunity for these two projects to create a future Northwest Territories tungsten industry. Selling them together will give us the best possible option and the shortest time frame to converting these assets into a working project that will deliver benefits to the residents and businesses of the Northwest Territories. We also don't want these two assets to compete against each other in what is a relatively small global market of producers and buyers.
Wally Schumann on Question 577-18(3): Mactung Property Sale
In the Legislative Assembly on February 20th, 2019. See this statement in context.
Question 577-18(3): Mactung Property Sale
Oral Questions
February 20th, 2019
Page 4908
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