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

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.

View full TYM profile View Profile

Tertiary Minerals plc Timeline

Related Articles

Boardroom photo
September 28 2018
Ian Hobson has more than 30 years professional accounting experience with commercial roles in Australia, the UK and Canada.
gold bars
August 02 2018
Arc Minerals has significant upside at kalaba in Zambia
Sample from Thackaringa Cobalt Project
September 05 2018
Recent pre-feasibility study confirmed that the Thackaringa project is of global significance as a potential source of high-purity cobalt for the battery revolution.

© 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