Nova Minerals Corp: U.S. Government Commits $249 Million to Port Mackenzie Rail Infrastructure

Nova Minerals Corp (NYSE American: NVA) announced on October 21, 2026, that the U.S. Government has committed $249 million to complete the final stages of the Port MacKenzie Rail Extension in Alaska. The funding will facilitate the construction of a new 32-mile rail line connecting Port MacKenzie to the Alaska Railroad Corporation’s main line.

The project, valued at approximately $311 million, is being funded through a combination of federal and local contributions. The U.S. Department of Transportation (USDOT) is providing a $249 million grant, which covers around 80 percent of the total cost, with the remaining $62 million to be contributed by state and local partners.

Nova Minerals stated that the rail extension will provide a direct transport link to its planned antimony and critical minerals processing and refining hub at Port MacKenzie. The company’s direct rail siding will enable the seamless shipment of antimony and other critical minerals ore and concentrate feedstock from the Alaskan interior to its facility.

The announcement was made on October 19, 2026, at Port MacKenzie, attended by U.S. Department of Transportation Secretary Sean Duffy, U.S. Senator for Alaska Dan Sullivan, U.S. Representative for Alaska Nick Begich, U.S. House Natural Resources Committee Chairman Rep. Bruce Westerman, and Matsu Borough Mayor Edna Devries. Nova Minerals CEO Christopher Gerteisen, who serves as Vice-Chair of the Port MacKenzie Commission, also participated in the event.

Secretary Duffy indicated that the grant is intended to be processed by spring 2027, with the goal of beginning construction immediately. Nova Minerals highlighted that this investment is part of a broader series of infrastructure developments in the region, including $7.8 million allocated to enhance the port’s barge haul-out and loading operations and $34 million for port expansion. The company noted that these upgrades are intended to support the development of its Estelle Gold and Critical Minerals Project, as well as other resource projects across Alaska.

Nova Minerals is advancing the Estelle Gold and Critical Minerals Project, which hosts two defined multi-million-ounce gold resources. The company is also developing a domestic antimony supply chain, funded by a $43.4 million award from the U.S. Department of War, with a target production date of 2027.