Tertiary Minerals PLC Storuman Mining Permit Update (6871Q)
March 02 2016 - 1:00AM
UK Regulatory
TIDMTYM
RNS Number : 6871Q
Tertiary Minerals PLC
02 March 2016
02 March 2016
Tertiary Minerals plc
("Tertiary" or "the Company")
Storuman Mining Permit Update
Tertiary Minerals plc, the AIM-traded company building a
strategic position in the fluorspar sector, is pleased to provide
further details of the Storuman Exploitation (Mine) Permit approved
by the Swedish Mining Inspectorate on 18 February 2016.
Key Points
-- The exploitation permit is valid for 25 years from 18 February, 2016
-- Name of the Mining concession area: Kyrkberget K nr.1
-- The exploitation permit has been granted to extract fluorspar
under the Swedish Minerals Act (1991:45) and, with regards to the
question of localisation, the Swedish Environmental Code
(1998:808)
-- The exploitation permit covers 184.13 hectares
-- 500,000 Swedish Krona must be paid to the Mining Inspectorate
prior to the commencement of mining operations as economic security
for the rehabilitation measures after the mine is closed
-- An application for land allocation must be made according to
the Minerals Act before any land can be used for the mine according
to the permit
-- The concession area is predominantly limited to the area of the proposed open pit
-- The Swedish Mining Inspectorate has granted the Permit by
giving precedence to the national interest of minerals over the
national interest of reindeer herding
-- The decision may be appealed to the Swedish Government, the
deadline for filing an appeal is 24 March, 2016.
-- If the decision is appealed, it will not be final until the
Government has made a final decision in the matter
An updated map showing the location of the Exploitation (Mining)
Concession area and key infrastructure is available on the
Company's website:
http://www.tertiaryminerals.com/projects/fluorspar-projects/storuman
Enquiries
Tertiary Minerals plc
Patrick Cheetham, Executive
Chairman
Richard Clemmey, Managing
Director +44 (0)1625 838 679
SP Angel Corporate Finance
LLP
Nominated Adviser & Joint
Broker
Ewan Leggat / Tercel
Moore +44 (0)20 3470 0470
Beaufort Securities Ltd
Joint Broker
Jon Belliss / Elliot
Hance +44 (0)20 7382 8300
Detailed Information - Storuman Project, Sweden
The Company's 100% owned Storuman project is located in north
central Sweden and is linked by the E12 highway to the port city of
Mo-i-Rana in Norway and by road and rail to the port of Umeå on the
Gulf of Bothnia. A recently constructed bulk rail terminal 25km
from the project site is likely to become an important factor in
the cost-effective delivery of fluorspar to the key European
fluorspar market.
Leading up to the Exploitation (Mine) Permit application the
Company completed the following key work programmes for the
project:
-- Drilling
-- Metallurgical testwork
-- Scoping Study
-- JORC compliant Mineral Resource Estimate
-- Key stakeholder engagement and consultation
-- More than two years baseline environmental studies
The resultant technical, economic, social and environmental
information was used by the Company and its Swedish based
consultants and advisors to prepare the technical description,
environmental impact assessment and legal documents required for
the application. The Company submitted its Exploitation (Mine)
Permit application in July 2014 to the Swedish Mining Inspectorate.
Following submission, the Company and Swedish Mining Inspectorate
engaged in a process of consultation with key stakeholder groups
who may be affected by the mining project, including:
-- Landowners
-- Storumans Kommun (local municipality/council)
-- County Administration Board of Västerbotten (regional council)
-- Sami Reindeer Husbandry Community
-- Trafikverket (Swedish transport administration)
-- Vattenfall (Swedish electricity producer)
-- Skanova (Swedish telecommunications provider)
Following the extensive consultation process 6 of the 7 key
stakeholder groups have given their support to the Storuman
Exploitation (Mine) Permit area, including approval from both the
Storumans Kommun (local municipality/council) and the County
Administration Board of Västerbotten (regional council). The Sami
reindeer husbandry community has objected to the application
despite the efforts of the Company and its consultants to find
solutions allowing mining operations and reindeer husbandry to
co-exist. On the 18 February 2016 the Swedish Mining Inspectorate
approved the exploitation (Mine) Permit for a period of 25
years.
The Next Steps
Before mine construction can commence the detailed conditions of
the operation must be set through the Environmental Permit process.
The process is handled in the Swedish Land and Environmental Court
and is governed by the Swedish Environmental Code (1998:808). The
concession area does not include the processing plant, tailings
facility and associated infrastructure - these areas will be dealt
with through the subsequent Environmental Permit process. The view
of the Mining Inspectorate is that continued sustainable reindeer
husbandry can co-exist alongside the mining operation providing
that the Company implements appropriate protective
measures/precautions, the details of which will be set by the
Swedish Land and Environmental Court.
Technical and economic information from the Preliminary
Feasibility currently underway will be used to prepare the
Environmental Permit application.
Notes to Editors
Tertiary Minerals plc (ticker symbol 'TYM') is an AIM-traded
mineral exploration and development company building a significant
strategic position in the fluorspar sector. Fluorspar is an
essential raw material in the chemical, steel and aluminium
industries. Tertiary controls two significant Scandinavian projects
(Storuman in Sweden and Lassedalen in Norway) and a large deposit
of strategic significance in Nevada, USA (MB Project).
CAUTIONARY NOTICE
The news release may contain certain statements and expressions
of belief, expectation or opinion which are forward looking
statements, and which relate, inter alia, to the Company's proposed
strategy, plans and objectives or to the expectations or intentions
of the Company's directors. Such forward-looking statements involve
known and unknown risks, uncertainties and other important factors
beyond the control of the Company that could cause the actual
performance or achievements of the Company to be materially
different from such forward-looking statements. Accordingly, you
should not rely on any forward-looking statements and save as
required by the AIM Rules for Companies or by law, the Company does
not accept any obligation to disseminate any updates or revisions
to such forward-looking statements.
This information is provided by RNS
The company news service from the London Stock Exchange
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