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Finnaust acquires new Greenland ground

Published: 09:10 05 Sep 2016 BST

Finnaust---Pituffik
Underground at Pituffik

Finnaust Mining PLC (LON:FAM) has acquired some new ground in Greenland.

Two of the projects involved, formerly owned by a subsidiary of Cairn Energy, have been the subject of more than US$50 mln of technical work by former owners in the past.

Between them these show potential for nickel, copper, platinum, zinc, lead and silver.

The company’s primary focus remains on delivering production at the Pituffik titanium project, also in Greenland.

"This acquisition further consolidates FinnAust's position in Greenland and sees us add quality acreage to our Greenlandic portfolio, which already includes the unusually pure Pituffik titanium project,” said Finnaust chief Roderick McIllree.

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