Tertiary Minerals PLC Storuman Project Mine Permit Update (0547N)
14 Gennaio 2019 - 5:22PM
UK Regulatory
TIDMTYM
RNS Number : 0547N
Tertiary Minerals PLC
14 January 2019
14 January 2019
Tertiary Minerals plc ("Tertiary" or "the Company")
Storuman Project Mine Permit Update
Further to the operational update provided in the RNS dated 12
December 2018, Tertiary Minerals plc, the AIM traded company
building a strategic position in the fluorspar sector, has today
received news from its Swedish Lawyers regarding the Exploitation
(Mine) Permit re-assessment for the Company's Storuman Fluorspar
Project in Sweden, summary as follows:
-- The Swedish Mining Inspectorate ("Mining Inspectorate") has chosen to agree with the County Administrative Board of Västerbotten ("CAB") assessment and it has rejected Tertiary's application
-- This is despite the fact that the Mining Inspectorate
simultaneously states in their decision that the economic aspects
point in favour of granting the exploitation concession, that a
permit regarding Natura 2000-area is unnecessary, that fluorspar is
included in the EU list of critical materials and that a mining
establishment would mean positive socio-economic benefit for the
municipality of Storuman
-- The Mining Inspectorate has however agreed with the CAB's
assessment that the protective/mitigation measures suggested by
Tertiary are not sufficient to enable coexistence between mining
and reindeer husbandry
-- The Company's Swedish lawyer has commented that the Mining
Inspectorate has not fully assessed the case regarding the
protective/mitigation measures suggested by Tertiary and has
instead only taken the CAB's assessment into account. It has
recommended that Tertiary appeal the decision to the Government
-- Tertiary will now fully assess the decision and intends to
lodge an appeal with the Swedish Government in line with the advice
of it's Swedish lawyer
Commenting today, Managing Director, Richard Clemmey said: "We
are disappointed that the Mining Inspectorate has taken this
decision based on the application in its current form. We, together
with our Swedish Lawyers, will appeal the decision to the Swedish
Government and will now assess the future options available to the
Company".
Enquiries
Tertiary Minerals plc
Richard Clemmey, Managing Director
Patrick Cheetham, Executive
Chairman +44 (0) 1625 838 679
SP Angel Corporate Finance LLP
Nominated Adviser & Broker
Lindsay Mair/Caroline Rowe +44 (0) 20 3470 0470
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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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