U.S. Gov't Commits $249M for Rail Link Supporting NVA's Alaska Operations

Nova Minerals Corp (NVA) announced that the U.S. Government has committed a $249 million federal grant to complete the Port MacKenzie Rail Extension in Alaska. This new infrastructure is expected to provide a direct transportation link to the company's planned critical minerals processing and refining hub, significantly supporting its resource development projects in the region.

Key Details

• Funding: The U.S. Department of Transportation will provide a $249 million federal grant, covering approximately 80% of the $311 million total project cost.
• Project Scope: The investment will fund a new 32-mile rail line connecting Port MacKenzie to the Alaska Railroad Corporation’s main line.
• Business Impact: The rail extension will directly serve Nova's planned antimony and critical minerals processing facility, streamlining the transport of ore and concentrate from its Estelle Gold and Critical Minerals Project and other regional sources.