Tertiary Minerals PLC Storuman Mine Permit Appeals (4242T)

TIDMTYM

RNS Number : 4242T

Tertiary Minerals PLC

29 March 2016

Tertiary Minerals plc ("Tertiary" or "Company")

29 March 2016

Storuman Mine Permit Appeals

Tertiary Minerals plc, the AIM traded company building a strategic position in the fluorspar sector, has been informed by the Swedish Mining Inspectorate that two appeals have been lodged against the Exploitation (Mine) Permit for the Storuman fluorspar project in Sweden (granted on the 18 February 2016). The appeals have been submitted by the Sami Reindeer Husbandry Community and Urbergsgruppen, a Swedish environmental action group who oppose all mining activities throughout Sweden.

The appeals will be decided by the Swedish Government following their review of information from the original Exploitation (Mine) Permit application made by the Company, the Mine Permit approval, the appeal documents and all key stakeholder groups, including:

   --     Landowners 
   --     Storumans Kommun (local municipality/council) 
   --     County Administrative Board of Västerbotten (regional council) 
   --     Trafikverket (Swedish transport administration) 
   --     Vattenfall (Swedish electricity producer) 
   --     Skanova (Swedish telecommunications provider) 
   --     Sami Reindeer Husbandry Community 

The Company is expecting the appeals to be rejected for the following reasons:

-- 6 of the 7 key stakeholder groups have given their support for the Storuman fluorspar project

-- The project will provide critical regional economic growth and employment opportunities - supporting regional development plans

-- Fluorspar is classified as a critical raw material by the European Commission - a key factor taken into consideration by the Swedish Mining Inspectorate when awarding the Exploitation (Mine) Permit

The time frame in which the Swedish government will deal with the appeals is unknown at this stage and the Company will provide updates on the progress as and when information becomes available.

 
  Enquiries 
   Tertiary Minerals plc 
   Richard Clemmey, Managing 
   Director 
   Patrick Cheetham, Executive 
   Chairman                        [phone] 
 SP Angel Corporate Finance 
  LLP 
  Nominated Adviser & Joint 
  Broker 
  Ewan Leggat/Tercel Moore         [phone] 
  Beaufort Securities Ltd 
   Joint Broker 
   Elliot Hance                    [phone] 
 

Notes to Editors

Tertiary Minerals plc (ticker symbol 'TYM') is an AIM-traded mineral exploration and development company building a significant strategic position in the fluorspar sector. Fluorspar is an essential raw material in the chemical, steel and aluminium industries. Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway) and a large deposit of strategic significance in Nevada, USA (MB Project).

CAUTIONARY NOTICE

The news release may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to the Company's proposed strategy, plans and objectives or to the expectations or intentions of the Company's directors. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward-looking statements.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCXKLFLQXFFBBV

(END) Dow Jones Newswires

March 29, 2016 09:20 ET (13:20 GMT)