Sep 14 2015
HUDSON RESOURCES INC. (the "Company") is very pleased to announce that the Government of Greenland has approved the 30-year exploitation (mining) license for Hudson's White Mountain anorthosite project. The exploitation license can be extended for an additional 20 years upon approval from the government. The license will be held in Hudson's 100% owned Greenland subsidiary, Hudson Greenland A/S.
Concurrent with the exploitation approval was the approval of the Impact Benefit Agreement (IBA) between Hudson, the Greenland government and the Qeqqata Municipality whose communities surround the project. The IBA will ensure that local communities and stakeholders share in the benefits of the project including employment, training, social and educational support.
James Tuer, Hudson's President, stated, "We are very pleased that the Government of Greenland has now completed the approval process and granted Hudson an exploitation license for our White Mountain anorthosite project. The fact that we have taken this project from initial exploration through to a permitted mine in three years is a testament to our team's hard work and the government's support in making Greenland an excellent jurisdiction for mining. Hudson is grateful for the high level of support it has received within the communities during the permitting process and looks forward to working with local stakeholders to make the mine a success."
This is the company's second major milestone in recent months following the signing of a 10-year global supply agreement (NR2015-03, July 30, 2015).
The Government has issued a statement on its official website in Greenlandic and Danish: http://naalakkersuisut.gl/da/Naalakkersuisut/Nyheder/2015/09/090915-Hudson
The White Mountain project is 100% owned by Hudson through its subsidiary, Hudson Greenland A/S. The anorthosite has three potential high value applications, as follows:
- A new source of feedstock to the high-end fiberglass (E-glass) industry;
- A new source of filler and coatings material, which are used by the plastics, paints and paper industries
- A new source of high-purity specialty and smelter grade alumina.
ON BEHALF OF THE BOARD OF DIRECTORS
James Tuer, President
Source: http://www.hudsonresources.ca/