Osisko Metals Incorporated announced on November 5 that Pine Point Mining Limited (PPML) and the Town of Hay River have signed a Memorandum of Understanding (MOU) to collaborate on the development and operation of the Pine Point Mining Project.  

The MOU aims to foster long-term sustainable growth for Hay River through the project's development and operations. Both parties will work together to identify and discuss opportunities that will benefit the town, its residents, and businesses.

PPML has initiated a series of town halls to engage with local communities. The company's leadership will present on key aspects of the project, including mining, processing, tailings, water management, and environmental studies. They will also address questions and seek feedback from community members.

The Pine Point Mining Project is a past-producing zinc mine located in the Northwest Territories. It holds significant mineral resources, including 49.5Mt grading 5.52% ZnEq of Indicated Mineral Resources and 8.3Mt grading 5.64% ZnEq of Inferred Mineral Resources.

On this MoU Jeff Hussey, CEO of PPML said, "Pine Point Mining Ltd. is committed to fostering positive and constructive relationships with communities to facilitate a positive impact from our mine development project and potential future mining operations for long-term sustainable growth for all communities impacted by our Project."

Kandis Jameson, Mayor of the Town of Hay River said, "The Pine Point mine presents an exciting opportunity to significantly benefit residents and businesses of Hay River. Our Town Council looks forward to working closely with Pine Point Mining Ltd. to maximize the economic potential of the project while thoughtfully considering all aspects of community impact."  

Osisko Metals Incorporated is a Canadian exploration and development company focused on copper and zinc. The company is advancing the Pine Point Project in a joint venture with Appian Capital, a high-grade zinc-lead asset in the Northwest Territories. Osisko also holds the Gaspé Copper Mine in Québec, hosting the largest undeveloped copper resource in Eastern North America. The company’s projects are strategically positioned to meet growing demand for critical metals in renewable energy technologies.

Appian Capital Advisory LLP is a London-based investment advisor specializing in private capital for the mining industry. Appian partners with companies to advance projects from development to production, leveraging its global expertise. With a successful track record of completing nine mine builds in six years, Appian supports mining operations across North America, South America, Europe, Australia, and Africa. The firm is committed to long-term value creation and sustainable mining project development.