Dragon Mining Ltd (ASX:DRA) is keeping a close eye on proposed changes in the area that hosts its Kuusamo Gold Project, which is located in northeastern Finland.
Dragon is a gold producer from two mines in Finland and it has a number of exploration projects, of which Kuusamo is one.
The municipality of Kuusamo has proposed a draft local master plan defining a core area for tourism.
Mining, processing and refining is not permitted in a core area for tourism.
Dragon as landowners and holders of mining rights in the municipality of Kuusamo has throughout the drafting process strongly expressed its reservations on the proposed plan and will vigorously oppose the plan through the Finnish Courts, if and when it is published.
Publication of the plan is anticipated in late 2016, following which a 30-day period to lodge appeals to the regional Administrative Court is permitted.
The Kuusamo Gold Project hosts five gold deposits and is located 700 kilometres northeast of Helsinki in northeastern Finland.
The project has a total Mineral Resource of 507,200 ounces gold grading 4.1 g/t gold.
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