Alba Mineral Resources secures 5-year extension for Greenland graphite project
Alba Mineral Resources Plc has confirmed that its licence for the Amitsoq project in Greenland has been extended for 5 years.
The explorer’s current tenure at Amitsoq now spans from 2018 to 2022.
It also noted that the authorities have confirmed that the spending obligations attached to 2018 have now been reduced to zero.
“We are grateful to the Government of Greenland for the continuing strong support they give to those of us operating in the mining sector in Greenland,” said George Frangeskides, Alba’s executive chairman.
“The latest demonstration of that support, in recognition of a view that global conditions for mining exploration remain sub-optimal, is the Government’s decision to apply a moratorium on exploration expenditure commitments for the duration of calendar year 2018 for all licences entering into year six or more of their term, which includes our Amitsoq licence.”
Alba highlighted that additional metallurgical test work has confirmed that graphite material from Amitsoq can be used to produce a marketable grade concentrate.
Frangeskides added: “We have continued to push forward our work at Amitsoq, as shown by the completion of these latest positive testwork results.
“The grant of a further five year licence term is a major development and reward for the significant work we have put into the Project over the past few years. Aside from Amitsoq, we now have a strong portfolio of exploration assets in Greenland and we look forward to announcing our plans for this coming field season soon.”
- Tara Mines bids to extract last of Bula resource and end long-running saga
- What Are The Major Natural Resources Of Macedonia?
- Mining concessions, fees and challenges for investors in Serbia
- Adriatic Metals’ Veovaca project in Bosnia received exploitation permit
- Central Asia Metals to buy Lynx Resources for $402.5m, including Macedonia lead zinc mine Sasa
- Newmont is expanding its business to Europe
- Koc Holding to acquire majority in 12 Irish gold mines
- Raptor Resources granted license to prospect for gold in Ireland
- Romania bail out from Ukraine Krivoy Rog Mining Oxidized Ore project investment
- Mining and indigenous communities across the world