The N.W.T. government has given final approval to Fortune Minerals' Nico project, a planned gold, cobalt, bismuth and copper mine 150 kilometres northwest of Yellowknife.

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Michael Miltenberger, N.W.T. minister of Environment and Natural Resources, gave the Nico project final approval on Friday.

Michael Miltenberger, N.W.T. minister of Environment and Natural Resources, gave the project final approval last Friday. 

The Ontario-based company plans to start mining within three years. It's currently working on raising the money it needs to build the mine. 

The mine requires an all-weather road to truck out its metals, and the company has said it plans to have an application ready this fall. 

It also plans to build a metal refinery near Saskatoon.