Canadian miner raises funds to build country’s first carbon neutral mine

Photo: Foran Mining

Canada’s Foran Mining has announced it has entered into an agreement with a group of financial institutions to raise up to C$ 25 million (US$ 20 million) for its project to build the country’s first carbon neutral mine.


“Foran Mining is a copper-zinc-gold-silver exploration and development company, and we are planning to build the first mine in Canada designed to be carbon neutral from day one,” the company said in a statement.


“We are in the feasibility stage of development for our flagship McIlvenna Bay project in eastern Saskatchewan [which] … is a copper-zinc-gold-silver rich VMS deposit intended to be the center of a new mining camp in a prolific district that has already been producing for 100 years,” according to the statement.


Foran Mining is headquartered in Vancouver.