Nordic Mines AB: Approval to process third party ores
(Thomson Reuters ONE) -
Approval to process third party ores
On the 9(th) of May, 2017 after the release of the Market Update, the company
received written confirmation that it will be allowed to treat ore and
concentrates from third parties for up to 18% of the feed capacity of the
processing plant's high grade circuit (a small portion of the capacity of the
leaching circuit). This is subject to ensuring that the composition of the waste
and discharge from the operations is not changed in any material way from that
of the Laiva ore discharge. Furthermore, this approval is conditional on Nordic
Mines submitting an analysis of ore and concentrates to be treated for approval
at least four months prior to the planned processing of such ore and
concentrates.
The permit is subject to a 30 day period where complaints may be made.
This confirms the Company's view that handling of all external materials would
need to be applied with sufficient data, assays, leach tests, etc and would
constitute a significant reporting burden for the Company. The environmental
authorities may set new monitoring parameters depending on the quality of the
external material.
Further, the Company would again note that
i. There are few potential sources of material within a short enough distance
from Laiva which would mean that third party material could be
economically toll treated at the plant at Laiva;
ii. Nordic Mines currently has no offers of a supply of material to the plant;
and,
iii. The plant cannot be operated economically with only a supply of third
party material equating to 18% of the feed capacity of the processing
plant's high grade circuit so would remain reliant on ore from the Laiva
mine.
For additional information, please contact:
D. Saradhi Rajan, CEO: +44 743 271 1564
Ole Eikeland: +47 900 60 666
For more information about Nordic Mines, please visit; www.nordicmines.com.
This information is Nordic Mines AB (publ) obliged to make public pursuant to
the EU Market Abuse Regulation. The information was submitted for publication,
through the agency of the contact person set out above, at 16:30 CET on 11 May
2017.
Nordic Mines is a Nordic mining and exploration company. The Laiva mine in
Finland produced gold between 2011 and 2014. The deposit is among the largest in
the Nordic region. Nordic Mines is a member of SveMin and applies its reporting
regulations for public mining and exploration companies. The Nordic Mines share
has been admitted for trading on Nasdaq Stockholm's Small Cap list. For further
information, see www.nordicmines.com
Nordic Mines - Press Release Approval to process third party ores :
http://hugin.info/138647/R/2104011/798274.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nordic Mines AB via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 11.05.2017 - 16:30 Uhr
Sprache: Deutsch
News-ID 542002
Anzahl Zeichen: 3548
contact information:
Town:
Stockholm
Kategorie:
Business News
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