Mar 6 2015
Morien Resources Corp., is pleased to announce that the Environmental Impact Statement, has been submitted today to the Canadian Environmental Assessment Agency and Nova Scotia Environment for the Black Point Aggregate project in Guysborough County, Nova Scotia.
Morien and Black Point Aggregates Inc., a wholly owned subsidiary of Vulcan Materials Company ("Vulcan"), are working cooperatively to acquire the necessary environmental assessment approvals for the Project.
The submission of the EIS represents a major milestone in advancing the Project, and Morien and Vulcan anticipate a decision from the provincial and federal ministers of the environment in either Q4 2015 or Q1 2016. The EIS outlines the details for the development, operation, decommissioning and abandonment of a hard rock quarry and marine terminal at Black Point, including the potential environmental effects and the proposed measures to prevent or mitigate those effects. The submission of the EIS initiates a 30-day public review period that will continue until April 3, 2015.
The EIS and additional information regarding the environmental assessment process are available online at www.ceaa-acee.gc.ca (Registry reference number 80064) and at www.gov.ns.ca/nse/ea.
Morien announced previously on April 14, 2015, that it had entered into an agreement with Vulcan and the Municipality of the District of Guysborough ("MODG") whereby Vulcan would assume Morien's interest in Black Point and become manager and operator of the Project in exchange for reimbursing Morien for previous expenditures on the Project through milestone payments totalling $1,800,000, and an industry competitive royalty stream. The royalty will be payable on all material sold from the Project over the anticipated 50 plus year life of the mine, which is projected to provide annual revenue between $250K and $750K to Morien. The first payment of $1,000,000 was paid on signing of the agreement, and a second payment of $800,000 is due upon the approval and receipt of all environmental permitting necessary for the mining and shipping of aggregate from the Project.
Source: http://www.morienres.com/