Tertiary Minerals PLC Storuman Mine Permit Update (9713R)
15 December 2016 - 10:47PM
UK Regulatory
TIDMTYM
RNS Number : 9713R
Tertiary Minerals PLC
15 December 2016
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 +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 +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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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