Northcliff Receives Funding for Sisson Tungsten Project
Northcliff Resources (TSX: NCF) has announced a significant step forward in its Sisson Tungsten-Molybdenum Project with the backing of both the United States Department of Defense and the Canadian government. This collaboration comes in the form of a combined C$29 million (US$20.9 million) in funding aimed at advancing the critical minerals project to the next stage.
U.S. and Canadian Funding: A Critical Boost for Tungsten and Molybdenum Supply
In a move to strengthen and diversify the critical minerals supply chain, particularly for tungsten and molybdenum, the U.S. Department of Defense has committed US$15 million (~C$20.7 million) to Northcliff under the Defense Production Act Title III program. This non-dilutive funding will allow the company to push the Sisson project through its pre-construction phase and toward a construction decision.
Not far behind, the Canadian government, through Natural Resources Canada’s Global Partnerships Initiative, has also provided C$8.2 million (~US$5.9 million) in conditional funding, pending due diligence. This support marks a crucial moment in the project’s timeline, aligning both U.S. and Canadian efforts to address the growing demand for these vital minerals.
Sisson Project’s Role in Addressing Global Supply Chain Needs
Located in New Brunswick near tidewater, the Sisson Project boasts a significant deposit of tungsten and molybdenum—two strategic minerals in high demand across various industries such as electronics, aerospace, and defense. With global demand increasing, particularly in North America, the Sisson Project is positioned to become a reliable supplier of these critical materials, further bolstering the region’s defense and industrial capabilities.
Tungsten, recognized as the fourth-most critical mineral by several global entities—including the United States, Japan, and the European Union—has historically been sourced from countries like China, which currently produces about 80% of the world’s supply. This reliance has led to disruptions in pricing and transparency, highlighting the need for more diversified sources.
As the Sisson Project advances, it could help break this dependency by providing an accessible and reliable supply of tungsten and molybdenum. In turn, it would strengthen the North American supply chain, particularly in the critical sectors that depend on these metals.
Strategic Financial Support for the Sisson Project
With the new funding, Northcliff will focus on updating the feasibility study for the Sisson Project and continuing with pre-construction work programs. This will include engineering activities and studies necessary to meet the technical conditions associated with its existing environmental approvals. Additionally, the funds will support critical project development activities, such as securing the remaining permits and conducting the necessary offtake negotiations.
Andrew Ing, Chairman, President, and CEO of Northcliff, emphasized the importance of this funding, stating, “Northcliff’s aim is to contribute to the efforts to build a resilient North American supply chain and support development of new technologies through becoming a reliable, easily accessible producer of tungsten and molybdenum.”
The funding will play a vital role in finalizing the mine development plan and accelerating the Sisson Project toward a construction decision.
A Vision for the Future of Mining at Sisson
The initial feasibility study from 2013 outlined the development of an open-pit mine with conventional processing facilities. A key aspect of the plan is the addition of an Ammonium Paratungstate (APT) plant for value-added downstream processing of tungsten concentrates. This will add significant value to the Sisson Project by processing and refining the materials on-site.
The updated feasibility study, funded by this latest round of investment, will allow Northcliff to fine-tune these operations and move closer to finalizing the project’s economics.
The Role of Northcliff in the Global Mining Landscape
With a focus on critical mineral production and a goal of shaping a robust and reliable supply chain for key industrial applications, the Sisson Project represents a strategic investment in both global supply security and technological innovation.
As Northcliff continues to advance the Sisson Tungsten-Molybdenum Project, the company will remain a crucial player in the evolving landscape of North American mining. By increasing the domestic production of tungsten and molybdenum, the Sisson Project is poised to meet the growing demand from industries dependent on these critical minerals, thereby enhancing economic security and technological capabilities on both sides of the border.
For more updates on the Sisson Project and Northcliff’s progress, visit Northcliff Resources.
