Amaroq Minerals (TSXV: AMRQ; LSE: AMRQ) said Greenland’s government has approved its environmental impact assessment (EIA) and social impact assessment (SIA) for the Nalunaq gold project, clearing two key hurdles for the potential revival of the mine in the island’s south.
The junior said the EIA aimed to identify and communicate potential environmental impacts of the project throughout its phases, including construction, operations, closure, and post-closure.
It also outlined mitigation and monitoring measures to minimize negative environmental effects, which are being integrated into the project’s design and implementation.
“I cannot emphasize enough the importance of achieving this milestone, towards which our team has been working for over four years,” CEO Eldur Olafsson said in the statement.
The SIA laid out the project’s effects on the local community, emphasizing positive results such as creating jobs, providing training and skill development opportunities, boosting business for Greenlandic companies, and generating public revenue through royalties and taxes.
The past-producing Nalunaq mine was open between 2004 and 2013, producing more than 350,000 oz. of gold.
Amaroq acquired the project in 2015 and has since expanded the extent of the resource base through drilling, incorporating a new geological model (Dolerite Dyke). It has also acquired about 60% of the infrastructure required to bring Nalunaq back into production.
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