PhosCan Chemical Corp. has signed a deal with IAMGOLD Corp. to evaluate the potential to recover and sell niobium contained on their Martison property near Hearst.
IAMGOLD owns and operates a Chicoutimi mine (Niobec) which is North America's only source of pyrochlore, the primary niobium ore. Phoscan will provide samples of niobium-enriched material from their Martison phosphate deposit and tailings material from their beneficiation plant. IAMGOLD will attempt to extract nobium and may elect to do a feasibility study for the extraction, processing and marketing of the nobium.
In a March 26 release, Phoscan said upon completion of the study, IAMGOLD may elect to enter into a joint venture with Phoscan.
"We are pleased to enter into this agreement with IAMGOLD," said Phoscan president/CEO Stephen Case. "They are one of only a handful of parties that are truly knowledgeable about mining and marketing niobium and we look forward to working with them to evaluate the potential economic impact of the niobium on the development of the Martison Phosphate Project."
PhosCan's Martison Phosphate Project consists of a deposit, planned mine, beneficiation plant, conversion complex and solid fertilizer production facility. It is located 70 kilometres north of Hearst.
