Last checked at 15 Dec 2016 11:47
Tertiary Minerals plc ("Tertiary" or "Company")
15 December 2016
Storuman Mine Permit Update
Tertiary Minerals plc, the AIM traded company building a strategic position in the fluorspar sector, is pleased to provide an update on the progress of the Mine Permit appeal process for its Storuman fluorspar project in Sweden.
Subsequent to the detailed update provided by the Company on the 13 December in the Annual Report, the Company has now been informed by the Swedish Government that the case has been referred to the Swedish Mining Inspectorate for re-assessment taking the new case law of the Norra Karr Mine Permit (rare earth element project owned by Leading Edge Minerals) into account. The re-assessment will now include the impact that mining activity may have on its surroundings (the "wider area").
Taking into account the new case law, the Company believes that the re-assessment is the preferred route for the case at this stage in the process and that the Environmental Impact Assessment ("EIA") prepared by Tertiary, and selected Swedish consultants, provides a sufficient description of the expected environmental impact on the wider area based on the extensive and detailed baseline environmental studies and reindeer husbandry impact analysis completed by the Company.
Once the case file has been received by the Swedish Mining Inspectorate the Company will continue to co-ordinate closely with them and will update the market accordingly as and when significant news is available.
Commenting today, Managing Director, Richard Clemmey said: "We are pleased to see progress is being made and are confident that the quality and extent of our EIA coupled with the expected continued support from key stakeholders in the project will provide support for a positive outcome for Tertiary in this process".
Enquiries
Tertiary Minerals plc Richard Clemmey, Managing Director Patrick Cheetham, Executive Chairman
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+44 (0) 1625 838 679 |
SP Angel Corporate Finance LLP Nominated Adviser & Joint Broker Ewan Leggat/Laura Harrison | +44 (0) 20 3470 0470 |
Beaufort Securities Ltd Joint Broker Elliot Hance
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+44 (0)20 7382 8300 |
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement
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.