JAY.L Share News (JAY)

(Sharecast News) - Greenland and Finland-focussed Bluejay Mining updated the market on its exploitation licence application for the Dundas Ilmenite Project in Greenland on Monday, reporting that the country's Ministry of Mineral Resources has confirmed its social impact assessment for the project was compliant with the public consultation guidelines.

The AIM-traded firm said the assessment, prepared by NIRAS, concluded that the construction and start of the ilmenite sand mine at Dundas would have a "significantly positive" effect on the livelihoods of the people of Greenland.

It said that the social impact assessment and the environmental impact assessment would now be presented to the Greenland government for approval, to start the public consultation period as part of the approval process for an exploitation licence.

Bluejay said it had recently initiated dialogue with the Ministry of Industry, Energy, Research and Labour over the new amendments to the Large-Scale Project Act in Greenland, in order to evaluate the option of simultaneously applying for a large-scale project permit with its application for an exploitation licence.

"We are extremely pleased to have both the social impact assessment and the environmental impact assessment confirmed as compliant, which are necessary and important components of the exploitation application process," said chief executive officer Roderick McIllree.

"This is a key milestone for Dundas as we focus on commercial production.

"Both studies should soon be released for public consultation and will, we anticipate, demonstrate a high-quality and thorough assessment of Dundas' future development schedule."

McIllree said Dundas represented a sustainable project that would provide considerable opportunities for the local communities both in north-west greenland and on a national level.

"We have been very impressed with the local and national support and interest in the project and we look forward to deepening these relationships long into the future.

"l would like to thank NIRAS and the government of Greenland's Ministry of Mineral Resources for their professional work and support over the last two and a half years in collaborating with Bluejay in processing the social impact assessment through this approval stage.

"I would also like to thank everyone who contributed to the social impact assessment but especially the ministerial case officers for their tireless work and diligence throughout this process."

In addition, and following the recent supportive amendments to the Large-Scale Project Act in Greenland, McIllree added that the company was now in dialogue with the Ministry of Industry, Energy, Research and Labour to evaluate the options of also applying for a large-scale project permit.

"This is secondary to, but in conjunction with our primary focus which is the process towards the granting of the exploitation licence."

At 1504 GMT, shares in Bluejay Mining were down 4.73% in London, at 8.25p.