International financial institutions and Canadian export credit agencies have begun an on-site project evaluation of Troilus Mining’s copper and gold project in northern Quebec, according to the company. Site visits include reviews of ongoing engineering, infrastructure, environmental permits, and development readiness. This due diligence is part of Troilus’ previously announced $1.2 billion financing package.
Troilus announced the progress in a press release that followed an event at the proposed mine to officially celebrate it Power distribution: 70 MW. This was announced by Bernard Drainville, Quebec’s Minister of Economy, Innovation and Energy, and Kateri Champagne-Jordan, Minister of Natural Resources and Forestry. In addition to members of the Government of Quebec, the event attracted representatives from Hydro-Québec, members of the Cree community, provincial stakeholders and municipal representatives.
Troilus CEO Justin Reid said the event was about continuing the company’s relationship with government and the local community. “As one of the largest copper and gold developments in Quebec, Troilus has the potential to become an important long-term contributor to the province’s economy and critical minerals strategy,” Reed said.
Troilus said the project will create about 1,000 construction jobs and more than 680 permanent jobs in the Eeyou Istchee James Bay region of Quebec.
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