THE BOURSE WHISPERER: Ironbark Zinc (ASX: IBG) has lodged a formal application for an Exploitation Licence (Mining Licence) with the Greenland Government authorities.
The application is for the company’s 100 per cent-owned Citronen base metal project.
“This is a defining step forward for Ironbark as the company progresses towards developing a globally significant zinc mining operation,” Ironbark Zinc said in its ASX announcement.
The company explained that a Mining Licence application in Greenland differs from mining licences in other jurisdictions in that it is comprehensive and encompasses all aspects of the proposed mine such as the environmental permitting and social commitments.
“Following approval, the Mining Licence would provide Ironbark with the right to mine for a period of 30 years,” Ironbark said.
“Greenland, which has a history of zinc and lead mining, is proactive and pro-mining with zinc and lead being approved metals for exploitation.
“Greenland is aggressively seeking to develop a strong mineral and petroleum industry and has returned very high global rankings on the annual Fraser Institute survey.”
The Mining Licence application has been prepared in significant consultation with the relevant Greenlandic and Danish authorities and comprises a Feasibility Study; Social Impact Study (SIA); Environmental Impact Study with base line surveys (EIA); and Navigational Safety Investigation (NSI).
These documents will encompass a number of subsequent studies and plans, including: Environmental Management; Training, Employment, Health and Safety planning.
A Full Feasibility Study will be undertaken covering the Process Plant, Infrastructure Works, Mine Development-Underground and Open Pit, Tailings Disposal, Power Generation, Accommodation and Emergency Services, Ship-Loading and Shipping and Execution Planning.
Ironbark will be required to manage a public consultation process as part of the application process and enter into an Impact Benefit Agreement (IBA) prior to being awarded a Mining Licence.
The company said the IBA is a document used to provide a formal framework for Ironbark’s obligations such as training and employment commitments to the Greenlandic people.