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.
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.