LONDON (Alliance News) - FinnAust Mining PLC said on Tuesday it has received approval from the Greenland Mineral Licence & Safety Authority for its 2016 work programme at the Pituffik titanium project.
FinnAust received approval for all the activities proposed in its exploration programme, including export permits for samples, equipment required to collect, transport and process these samples, and permits for the operation of terrain vehicles.
The titanium mining company said the programme will build upon the "solid foundation" of work completed in the area last year, but will now include marine and terrestrial components, such as drilling in the shallow marine environment.
"The approval of this work programme follows on from the recent extension of the mineral exploration licence to cover offshore areas, which was the first marine based exploration licence for minerals to be granted by the Self Rule Government of Greenland," said Roderrick McIllree, FinnAust chief executive.
Shares in FinnAust were untraded Tuesday, having last traded at 4.90 pence.
By Lucy Heming; lucyheming@alliancenews.com
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