Platinum-focused investors have no doubt heard of exploration and development company Wellgreen Platinum (TSXV:WG), whose open-pittable PGMs-nickel-copper Wellgreen deposit is located in Canada's Yukon. The project is unique in terms of its properties and location, but last week, the company announced news that may make Wellgreen even more interesting: a partnership that could see it become the first mining project in Canada to run on liquefied natural gas (LNG).
According to a press release, Wellgreen has signed a memorandum of understanding with Ferus Natural Gas Fuels to pursue a clean energy project in Yukon. The companies will work with other Yukon businesses, communities and First Nations "to explore additional clean fuel opportunities" and "assess the need for an LNG plant in proximity to Wellgreen's project." Such a plant would not only benefit Wellgreen in terms of reducing LNG transport costs, but could also be good for other mining and power projects in the region. What's more, local communities in Yukon stand to benefit from the use of low-cost, low-emission LNG, which can be used in place of more conventional diesel generators. That isn't all that the company has been up to either. This is the second MOU that Wellgreen has secured regarding the supply of LNG for its project, the first having been signed with Northern Lights Energy, LLC back in June. It has also signed an MOU with General Electric for LNG power infrastructure and systems. Furthermore, the company has noted that the Yukon government is actively working to bring LNG to the territory, citing efforts to update the Watson Lake power plant.