The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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CM, this might be exactly what you are looking for…
Read on from 16 as the next few articles have some interesting sections that might have implications on the land ownership issues .
https://wetransfer.com/downloads/85fab84ba5919b32f5b1fcc8cc9c933820220809201742/6eebcf
Courtesy of Saloccin, truffle hunter extraordinaire.
China are out shopping for ESG commods right now apparently ...
......if you want to miss the boat that is !
Nothing to see here. Try again in 2025 !!!!
Thanks. Just reading some of it, I’m staggered how people build careers processing this tedious verbiage? Little fleas have little fleas upon their backs to bite them….?
https://unece.org/env/pp/cc/accc.c.2021.186_portugal
There has been no update following the meeting last month, apparently a bit haphazard.
To be fair, DA had nothing to do with this so any legal abilities would not have been applicable for this, or the local parish council v the government or indeed the most recent one.
Will these, or at least any further cases be guillotined once the new rules come into play, post public consultation towards the end of Sep?
Does anyone have a reference for this ECO decree law stuff that works please? Not sure if I’m looking at news or the usual waffle coming from our hosts in Portugal. As ever context is everything!
Does it mention how to deal with vexatious legal actions? To date I can recall an Aarhus convention referral, a procedural process issue and a land boundary complaint., none of which seem to have progressed any further?
Someone thinks we need a replacement for DA? How far did having a lawyer in charge get us with all the above? Let’s keep it low cost and driven by mining pros.
"Another bit of good news is the recent USA 450 billion dollars package to boost inflation, including investments to encourage electric vehicles."
Fixed
BTW - that package, in reality, is anti-EV, anti-direct sales and pro-fossil fuels but it doesn't matter - whatever makes number go up is all that counts for the forseeable and that will include the spod/lithium price.
Another bit of good news is the recent USA 450billion dollars package to fight global warming, including investments to encourage electric vehicles.
Lithium picking up some buzz again on the back of the ESG ramp - none of us know where the ESG stuff is really heading but if it's for real then this could go a lot further than 4p to my eye.
It's also becoming clear that the share price will go back to it's 6 month trading range of > 4p after the minor dip recently.
Just need a David Archer replacement and EIA approval and it will fly.
Nice work.
Starfoxx, is it right to cautiously conclude that these measures seem to be good news - preventing stonewalling via bureaucracy and certain legal shenanigans? Thanks for sharing your research!
Well well well, after reading the ministers statement on the changes to the decree law it seems to me SAV have been very closely linked to the reform.
1. Tacit Approval;
"in terms of EIA, it is determined that the deadlines for tacit approval are counted from the moment of receipt of the impact study environment and not from the moment of the "duly instructed" request, which, in practice, allowed the period to only begin when the Public Administration understood it"
"it is determined that a tacit deferral is formed with the mere expiration of the term and that it is formed when there has not been a decision notified to the interested party."
This was always a huge question mark for me as the law clearly stated tacit approval within 100 days. Very happy to see this one personally as it's never quite made sense thus far.
2. Request for new information;
"a system is established to prevent entities responsible for carrying out administrative procedures to make use of procedural expedients to suspend the deadlines for decision... it is determined that these entities can only request for once new documents, clarifications, complementary elements or information to the interested party."
"whenever these entities request new documents, clarifications, additional elements or information, the deadline for decision is not suspended, as long as the individual responds by sending the documents, clarifications, additional elements or information within ten days."
Ring any bells? After the 2020/21 requests for new information we're now supplying a further round...
3. Failure to Decide on time;
"in order to ensure that the administrative procedures remain within the legal deadlines and to prevent them from being stopped during an excessive period of time to wait for opinions not issued in a timely manner... it is determined that opinions issued after the deadline provided for by law are null and void"
To add context this is to ensure "authorizations and other administrative procedures is not itself an obstacle to the adoption of more environmentally friendly behavior", in other words stop messing around and make decisions so Portugal can progress with the expansion of the green economy inc. battery value chain.
4. Questionnaire;
"consider the opportunity cost associated with the time the procedures take administrative processes are stopped (that is, the average duration of the licensing processes, given the to the various stops motivated by requests for additional information, waiting for opinions, etc.), as well as the fact that, in practice, it is often not possible to effectively benefit from the figure of the tacit deferral"
The reform closes with a request for companies to comment on the proposal. I would hope the above extract will be receiving a thorough response from SAV (email to Dale is in the post).
Link if interested though you will need to translate,
https://www.consultalex.gov.pt/ConsultaPublica_
From ECO,
“The decree-law aimed at simplifying the environmental licensing process has already been approved in the Council of Ministers. Although it is not yet in public consultation - it should be released for the week, and will be available until September 15 - the Government has already lifted its veil on some of the main measures……. Apart from the area of renewable energy, there are also novelties for the industry. In "certain situations", the need for EIA for changes or expansions of metal production and processing projects, mineral, chemical, food, textile, tanneries, wood and paper and rubber industry is eliminated…… Environmental impact assessments are also waived in the case of railway modernisation and allotment projects.”
I don’t think allotment projects refer to veggie plots but might impact any upcoming auction areas. Not sure if any of this will be of use to SAV as they were ‘excluded’ or whether current process would be subject to new legislation once effective, presumably post mid Sep after the consultation period.
Whatever, we are now one month on from the news in July that APA had started to engage with SAV and assess the EIA application. According to the recent presentation, any resubmission would need to be done by late September if the result is to be known this year. September? Again.