leadf
logo-loader
viewArc Minerals Limited
(
AIM:ARCM
)

Ortac Resources responds to protestors’ concerns

silverbar350_5135f2932fb9a.jpg

Ortac Resources (LON:OTC) said it is actively addressing concerns over its Šturec project in Kremnica that were recently raised in an open letter issued by the town’s mayor.

Ortac said the positions of the mayor, Zuzana Balžová, and a local activist group related to Balžová, are well known, and are connected to standalone mining projects proposed in the past which were opposed by the town councillors and community.

Many of the rehashed concerns are ones that the company shares and maintains it will not repeat.

The chief concern of the mayor and his cohorts appears to be that Kremnica, “a historical town rich in cultural heritage”, would be ruined by the establishment of gold and silver mining operations in the town.

Ortac, which is committed to open communication with all local stakeholders in the Šturec project, said it is addressing the protestors’ issues in its development work.

It is working towards the presentation of a new sustainable development project which will continue to stimulate the regeneration of Kremnica and its environs well after the silver and gold mining has finished.

“Ortac remains of the opinion that the Šturec project is capable of being developed for the benefit of all stakeholders. It is committed to ensure that the Šturec project must not have the negative impacts that those who are against mining are justifiably concerned about,” the company statement said.

The mayor’s letter also raised the issue of a court ruling which raised doubts over Ortac’s mining rights. Ortac’s legal advisers, however, remain confident in the status of both its surface and underground mining rights and Ortac has confirmed it has not received any notice from the relevant mining authorities to raise doubts over its licence rights.

The company confirmed, however, it has been requested to submit an amendment to its Mine Development Design.
Ortac will shortly be presenting the results of its pre-feasibility study to the people of Kremnica and the surrounding region.

It remains committed to its policy of proactive dialogue and communication but in the event it is unable to change the mayor’s view, it is worth remembering the mayor is not the ultimate government agency in charge of making decisions regarding current licensing or future approvals for mining.

Quick facts: Arc Minerals Limited

Follow
AIM:ARCM

Price: 3.256 GBX

Market Cap: £36.22 m

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...

In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...

FOR OUR FULL DISCLAIMER CLICK HERE

Investor Update: Oracle Power's Pakistan block recognised as potential...

Headlines from the Proactive UK newsroom. Oracle Power PLC’s (LON:ORCP) resource on Block VI at Thar in Pakistan has been officially recognised as a potential coal gasification into fertiliser project. Pakistan is estimated to face a sizeable fertiliser shortage by 2026. Arc Minerals Ltd...

on 19/11/19

2 min read