Amaroq gets approval for Nalunaq environmental, social assessments

28th Jun 2024 12:25

(Sharecast News) - Southern Greenland-focussed mine developer Amaroq Minerals announced the approval of the environmental impact assessment (EIA) and social impact assessment (SIA) for its Nalunaq project on Friday, by the government of Greenland.

The AIM-traded firm said the EIA aimed to identify and communicate potential environmental impacts of the Nalunaq project throughout its phases, including construction, operations, closure, and post-closure.

It also outlined mitigation and monitoring measures to minimise negative environmental effects, which are being integrated into the project's design and implementation.

The SIA meanwhile evaluated the project's impact on local social conditions, highlighting positive outcomes such as job creation, training and skill development opportunities, increased business for Greenlandic companies, and public revenue generation through royalties and taxes.

"I cannot emphasise enough the importance of achieving this milestone, towards which our team has been working for over four years," said chief executive officer Eldur Olafsson.

"It has been a rigorous process involving many hours of work and dedication, including the production of numerous detailed technical background reports in support of our project design.

"We are committed to ensuring that we apply best practice to all areas of our work on our path to bringing Nalunaq into production."

At 1032 BST, shares in Amaroq Minerals were up 0.73% at 64.47p.

Reporting by Josh White for Sharecast.com.