Ironbark applies for Greenland mining lease

Ironbark Zinc says it has lodged a formal application for a 30-year mining licence with the Greenland government for its Citronen base metal project.

The company said the licence would cover all aspects of the mine such as environmental permits and social commitments.

“Greenland, which has a history of zinc and lead mining, is proactive and pro-mining with zinc and lead being approved metals for exploitation,” Ironbark said in a statement.

As part of the application process, Ironbark said it would be required to manage a public consultation process and enter into an impact benefit agreement, a document used to provide a formal framework for the company’s obligations such as training and employments to the Greenlandic people, prior to being awarded a mining licence.

“Ironbark’s key focus is the wholly owned Citronen base metal deposit,” the company said.

“Citronen currently hosts in excess of 10 billion pounds of zinc and lead.”

In April, Ironbark released a report indicating the viability of the Citronen project.

A bankable feasibility study flagged a capital cost of $US484.8 million for the project, while forecasting a life-of-mine revenue of $US5.65 billion.

Ironbark shares closed 4.7 per cent lower at 10 cents per share.