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Bluejay Mining PLC - Commencement of the Public Consultation Process

RNS Number : 0002R
Bluejay Mining PLC
25 June 2020
 

Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector: Mining

25 June 2020

Bluejay Mining plc ('Bluejay' or the 'Company')

 

Commencement of the Public Consultation for the Dundas Ilmenite Project

 

Bluejay Mining plc, the AIM and FSE listed company with projects in Greenland and Finland, is pleased to provide an update on its exploitation licence (the 'Exploitation Licence') application for the Dundas Ilmenite Project ('Dundas' or the 'Project') in Greenland.

 

The Company has been officially informed by The Ministry of Mineral Resource that the Public Consultation for the Dundas Ilmenite Project commenced Wednesday 24th June, 2020 (see https://naalakkersuisut.gl/en/Hearings/Hearing-Archive/2020/Titaniumsprojektet_Pituffik)

 

Greenland Government Minister for Industry and Mineral Resources Jens Frederik Nielsen stated:

"We are pleased to have found an appropriate solution with Bluejay and Dundas Titanium in proceeding safely and securely with the Public Consultation Process during these unprecedented times.  We see the Dundas Ilmenite Project as an important opportunity for North-West Greenland and the country as a whole, which will be demonstrated in the consultation meetings."

 

Due to the challenges presented by the COVID-19 pandemic, particularly affecting the consultation meetings which form a crucial component of the Public Consultation, the Government of Greenland has extended the Consultation Period from eight to ten weeks.  In parallel to the Consultation Period, Bluejay will advance the dialogue regarding the Impact Benefit Agreement as well as collating the 'White Paper', which manages the Company's responses to questions that arise from the consultation process.

 

These are the requirements on the Company prior to the finalisation of the Impact Benefit Agreement and the subsequent Governmental decision on an award or not of an Exploitation Licence for the Dundas Ilmenite Project

 

Bluejay CEO, Roderick McIllree said: "I am extremely pleased that we now have an accepted Exploitation Licence application and that the Public Consultation has commenced.  I would like to thank both the Greenlandic Authorities and the Bluejay team for their hard work in finding a solution in these COVID-19 challenged times.  The unprecedented global situation has put a lot of pressure on the society and the authorities in Greenland, but I'm happy that the Company can now say it is reaching the final  components of the decision making process regarding the Mining Licence award for Dundas."

 

Hans Jensen, Managing Director of subsidiary Dundas Titanium A/S said: "We very much look forward to continuing the good working relations with the Greenlandic Government, local stakeholders, suppliers and the Avannaata Kommunia; the municipality of North-West Greenland, in the continuing effort to create a sustainable, low impact, long duration mining operation for the benefit of Greenland and all stakeholders.

 

"Being able to support and create job opportunities for the community in the high Arctic is a special privilege.  I have lived and worked in Greenland for 32 years and I have travelled all over the country, but I must say that the population living in the high Arctic deserves opportunities like this.  Dundas could be a once in a lifetime opportunity for employment and growth in the region.  Last year, in collaboration with The School of Mines in Sisimiut and the Government, Bluejay commenced training and educating potential machine operators, and we have already had students from The School of Mines and the local communities working for us during our summer programmes.

 

"We look forward to increasing the collaboration even further in the years to come, bringing the Dundas Ilmenite Project into its next phase.  We very much look forward to engaging with the public during this Consultation Period."

 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

 

**ENDS**

 

For further information please visit http://www.bluejaymining.com or contact:

 

Roderick McIllree

Bluejay Mining plc

+44 (0) 20 7907 9326

Kevin Sheil

Bluejay Mining plc

+44 (0) 20 7907 9326

Ewan Leggat

SP Angel Corporate Finance LLP

(Nominated Adviser)

+44 (0) 20 3470 0470

Soltan Tagiev

SP Angel Corporate Finance LLP

(Nominated Adviser)

+44 (0) 20 3470 0470

Andrew Chubb

Hannam & Partners (Advisory) LLP

+44 (0) 20 7907 8500

Charlotte Page

St Brides Partners Ltd

+44 (0) 20 7236 1177

Cosima Akerman

St Brides Partners Ltd

+44 (0) 20 7236 1177

 

Notes

Bluejay is dual listed on the London AIM market and Frankfurt Stock Exchange with projects in Greenland and Finland. Its most advanced project is the Dundas Ilmenite Project in Greenland, which is being developed towards production in the near term.  The Dundas Ilmenite Project has been proven to be the highest-grade mineral sand ilmenite project globally, with a JORC Compliant Resource of 117 million tonnes at 6.1% ilmenite and a maiden offshore Exploration Target of between 300Mt and 530Mt of ilmenite at an average expected grade range of 0.4 - 4.8% ilmenite in-situ.

 

The Company's strategy is focused on securing an offtake partner and commencing commercial production at Dundas in the near term in order to create a company capable of self-funding exploration on current projects and future acquisitions.

 

Bluejay holds three additional projects in Greenland - the 2,897sq km Disko-Nuussuaq ('Disko') Magmatic Massive Sulphide nickel-copper-cobalt-platinum group element-gold project ('Ni-Cu-Co-PGE-Au'), which  has shown its potential to host mineralisation similar to the world's largest nickel-copper mining district at Noril'sk-Talnakh, northern Russia; the 692sq km Kangerluarsuk zinc-lead- silver project ('Kangerluarsuk'), where historical work has recovered grades of 41% zinc, 9.3% lead and 596 g/t silver and identified four large-scale drill ready targets; and the 2,025 sq km Thunderstone project which has the potential to host large-scale base metal and gold deposits.

 

The Company also has a 100% interest in a portfolio of copper, zinc and nickel projects in Finland.  This multi-commodity portfolio has been restructured to be cost-sustainable whilst determining the best plan for future development.

 

 

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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