Palm Coast, Florida 25/06/2015 - Royal Nickel has received its certificate of authorization for the Dumont nickel project from the Quebec Ministry of Sustainable Development, Environment and the Fight Against Climate Change, the company said on Thursday.
The process of obtaining the certificate of authorization for Dumont included a comprehensive Environmental and Social Impact Assessment as well as public consultations conducted by the Quebec Bureau d'audiences publiques sur l'environnement (BAPE). Under the Quebec Environment Quality Act, the Certificate of Authorization is the main permit required prior to commencing construction activities.
"This authorization is the most significant permit for mining projects in Quebec and positions Dumont to proceed to construction upon completion of financing," the company said.
Earlier this week, the company announced that Swedbank Norway will advise Royal Nickel Corp on a possible senior bond financing of around $600 million with a five-year maturity for its Dumont Nickel Project in Quebec, it said.
Swedbank will also support Royal Nickel's efforts in international markets to secure the additional equity and other capital required to complete the financing, the company said in a release.
"We expect to build on this positive momentum in the coming months," Mark Selby, president and CEO, commented. "Our objective is to complete the capital raising phase of the project in a timely manner to allow us to begin construction activities by early 2016."
The Dumont deposit contains around 6.9 billion pounds of nickel in the proven and probable reserve categories and 9.75 billion pounds of nickel resources in the measured and indicated category.
Ores from the mine will be processed using conventional methods to produce high-grade nickel concentrate, which will be transported for further refining elsewhere.