logo-loader
viewTertiary Minerals PLC

Tertiary Minerals reviews advice from Swedish authorities on Storuman fluorspar project

Tertiary Minerals is working with its consultants and lawyers to review the County Administrative Board's response to its proposed measures for the Storuman project

Tertiary Minerals
The group carried out an analysis of reindeer herding practices in the region

Tertiary Minerals plc (LON:TYM) said Swedish authorities have advised against granting a mining permit for the Storuman fluorspar project in its current form but it is considering its next steps to overcome the hurdle.

In April, the company submitted requested supplementary reports to the Swedish Mining Inspectorate regarding its application for a mining permit after meetings between the two and the County Administrative Board of Västerbotten (CAB).

The group had undertaken an in-depth analysis of reindeer herding practices and patterns in the region, given that grazing occurs in the area of planned mining operations.

Wider environmental studies and in-depth analysis were undertaken, showing that the proposed mining operations at Storuman, with mitigation measures proposed, would have only a minimal impact on reindeer husbandry.

READ: Tertiary Minerals in constructive dialogue with authorities in Sweden about mine permit

Tertiary Minerals said the CAB was not satisfied with these mitigation measures and has therefore advised against a mining permit in its current form.

The CAB, however, accepted that a supplementary permit for the Natura 200 area was not required.

"I am pleased that the CAB has accepted that we do not require an additional Natura 2000 permit, which would be a costly and time-consuming process,” said managing director Richard Cleeming.

“It is however disappointing that the CAB has not accepted the extensive mitigation measures proposed for the TSF location.”

He added that the group's Swedish consultants and lawyers remain of the “strong opinion” that the mitigation measures proposed are “more than adequate” to enable the co-existence of reindeer husbandry and the tailings storage facility operation.

The group is working with its consultants and lawyers to review the CAB’s response and will decide on the best course of action to resolve the issue, Cleeming concluded. 

Tertiary will not spend any further money on exploration or development of the Storuman project until the matter is resolved.

Quick facts: Tertiary Minerals PLC

Price: 0.275 GBX

AIM:TYM
Market: AIM
Market Cap: £1.22 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

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...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: KRM22 expands product offerings with deltaconX partnership,...

KRM22 PLC (LON:KRM) CEO Keith Todd stopped by the Proactive New York studio to talk about how the risk management group has signed a new partnership deal, and raised fresh capital. Todd says the company's new partnership with deltaconX simplifies regulatory reporting through its Global Risk...

5 hours, 46 minutes ago

2 min read