Fortune Minerals Limited plans to build a hydrometallurgical refinery in Lamont County, Alberta, that will process concentrates from its planned cobalt-gold-bismuth-copper mine in the Northwest Territories. 
The Alberta refinery, located on a 76.78-acre brownfield site in Alberta’s Industrial Heartland, will produce battery-grade cobalt sulfate, bismuth ingots, copper cement, and gold doré, supporting North American supply chains for critical minerals and new technologies. The project has received significant government funding, including $8.21 million from Natural Resources Canada, US$6.38 million (about C$9.1 million) from the U.S. Department of Defense, and $173,000 from Alberta Innovates, to advance engineering, test work, and permitting. 
This investment underscores Alberta’s growing role in mineral processing and the energy transition, while the NICO mine in the Northwest Territories will provide the primary feedstock for the new refinery.