Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Ormonde Mining gets compulsory purchase boost at Barruecopardo

The legal declaration allows it to use land without having to await completion of the compulsory purchase process.
Picture of tungsten
Tungsten is very dense and very hard

Ormonde Mining (LON:ORM) has been granted access to land it wants to compulsorily purchase to build a tungsten mine at Barruecopardo in Spain.

The Regional Government of Castilla y Leon, where Barruecopardo is situated, has issued a declaration of urgent occupation over the area concerned.

This legal declaration allows it to use land without having to await the completion of the compulsory purchase process.

It was requested by the mine’s operating company Saloro as part of a compulsory purchase application in March.

Ormonde’s plans have been delayed by an objection to some of its compulsory purchase plans in February, but it is not stated today whether the legal declaration relates to this or a different plot.

Steve Nicol, Ormonde's managing director, said:  "The decision by the Regional Government to vote in favour of the Declaration of Urgent Occupation on the remaining lands required to enable development of the Project, is a major success for the company.

“The decision, coming well ahead of the date required by our optimised schedule, shows the level of support that exists for the Project at all levels within the Spanish region in which we operate.

Under its revised production schedule, Ormonde will use land it already owns or rents and see commissioning in late 2017, as opposed to 2016 as originally hoped.

View full ORM profile View Profile

Ormonde Mining plc Timeline

Related Articles

June 14 2018
In April, Vast also acquired an indirect interest of 23.75% in the Eureka gold mine
March 27 2018
The company completed a $10 million capital raising earlier this year.
zinc in periodic table
Galileo's Star zinc project in Zambia is showing plenty of promise

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use