A company that is attempting to put a lead-zinc mine back into production near Hay River has signed a memorandum of understanding (MOU) with the NWT Power Corporation to negotiate terms of supplying hydroelectric power from the Taltson grid.

Depending on the time of year, available capacity from Taltson facility ranges from approximately 3.5 megawatts to eight megawatts, according to NTPC.

“The MOU does not commit either party to a power connection agreement but does provide a framework to continue the informal discussion between NTPC and Osisko Metals that has been underway over the past several years,” the parties stated in a joint news release issued Tuesday.

Pine Point, under previous ownership, produced lead and zinc from the 1960s into the 1980s.

“The Pine Point Project would require additional power when production begins, currently projected to be in 2028,” said Jeff Hussey, president and chief operating officer of Osisko Metals Inc. “The potential to access clean hydropower is an attractive opportunity that we want to explore further with NTPC. Our preference is to find ways to maximize the consumption of hydroelectric power, thereby reducing the project’s carbon footprint and reducing operating costs.”

Diane Archie, the minister responsible for NTPC, added that the GNWT is optimistic about “the potential to welcome a new industrial customer in the South Slave to utilize excess capacity from the Taltson Hydroelectric Facility. The memorandum of understanding between NTPC and Osisko Metals is a positive sign of future economic growth, benefiting all residents.”

Derek Neary

Derek Neary has been reporting on developments in the North for 18 years. When he's not writing for Nunavut News, he's working on Northern News Services' special publications such as Opportunities North,...

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