NuVau plans IPO to revive historic copper-zinc project in Quebec

Quebec-focused NuVau Minerals aims to go public this month, a move it says will help it access provincial government support for exploration and development of its past-producing Bracemac McLeod copper-zinc project in the Matagami camp.

The company already has a three-year, $30 million earn-in agreement with Glencore (LSE: GLEN), and a preliminary economic assessment (PEA) for the project, where mining goes back more than 60 years. Glencore was among a handful of miners in the region, and from 2013 until 2022 operated Bracemac McLeod.

Peter van Alphen, NuVau president and CEO, says listing on the TSX Venture Exchange will help NuVau tap some of the billions of dollars in the province's funding agencies aimed at mining.  

“Quebec is…I would say one of the best if not the best jurisdiction to be in mining,” van Alphen told The Northern Miner in an interview. “(Government funds) will work with you to finance development. But some of them won’t do it for a private company. We’re not primarily an exploration company, we’re a mining company looking to do exploration.”

NuVau is approaching the end of its deal with Glencore to explore and gain full interest in the Matagami camp, located in the province’s west, about 800 km north of Montreal.