Amaroq Minerals Ltd (TSX-V:AMRQ, AIM:AMRQ) announced that the Government of Greenland has approved the Environmental Impact Assessment (EIA) and Social Impact Assessment (SIA) for its Nalunaq gold project, a major milestone in its development.
The company said that the purpose of the EIA was to identify, predict and communicate the potential environmental impacts of the Nalunaq project in all phases.
It also identified mitigation and monitoring measures designed to eliminate or minimize negative environmental effects that the company said it would include in its project design and implementation activities.
The SIA assessed the project’s impact on existing social conditions and identified positive social impacts, including creating job opportunities, providing training and skill upgrading opportunities, creating opportunities for Greenlandic companies to provide goods and services, and generation of public revenue through the payment of royalties, and corporate and income taxes, the company said.
Amaroq CEO Edlur Olafsson emphasized the importance of achieving this milestone which the company's team has been working toward for more than four years.
“It has been a rigorous process involving many hours of work and dedication, including the production of numerous detailed technical background reports in support of our project design,” Olafsson said in a statement.
Joan Plant, Amaroq executive vice president of environmental, social and governance, added: “Maintaining environmental and social best practice is crucial to Amaroq in support of our core purpose; to create a Greenlandic legacy that is positive.
“Securing these approvals validates that the company’s operations are fully aligned with government guidelines and strategies and that it is fully supported by our local communities who recognize that we hold ourselves accountable to the highest standards.”
The company will now work with the Government of Greenland and Kommune Kujalleq on the Impact Benefit Agreement (IBA), which the company aims to have in place by the end of the year, Plant added.