JOHANNESBURG (miningweekly.com) – Aim-listed FinnAust Mining has received approval for a social-impact assessment (SIA) programme for its Pituffik titanium project from the Greenland Mineral Licence and Safety Authority (MLSA).
FinnAust is preparing an application for an exploitation licence at the Greenland-based project to extract ilmenite, a primary source of titanium metal.
As part of this application process, FinnAust is required to submit an SIA and an environmental-impact assessment (EIA), describing the potential impacts and planned mitigation measures for the project's construction, operation and closure.
Having received approval for its EIA work programme in August, the company is "delighted" to receive approval for its SIA work programme, marking another major milestone achievement in the project's permitting.
As part of the application for an exploitation licence, FinnAust will also be required to submit a feasibility study.
The SIA at Pituffik will aim to identify any potential social impacts the project may have and ultimately seek to optimise positive impacts, such a job creation and investment in infrastructure, while mitigating negative impacts.
The programme will be conducted in consultation with the Greenland Mineral Resources Authority and will be managed by Niras Greenland, an international, multidisciplinary consultancy company that was appointed by FinnAust earlier in the year for this purpose.
"With on-the-ground exploration continuing to deliver encouraging results, further underpinning the project's commercial value as a titanium asset, we remain focused on our objectives of delivering a maiden resource late this year and commencing a bulk sampling programme in 2017,” FinnAust CEO Roderick McIllree said.