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True North Gem (TNG) Attempts To Bypass Feasibility Studies In Greenland - Greg Valerio
By Marc Choyt “TNG is so confident of its deposit, and its plan, it wants to bypass the usual bankable feasibility study and go straight into permitting for production — and make the deal with a Greenlandic bureaucracy that’s fresh out of the starting block.” Canadian Mining Journal.” Canadian Mining Journal http://www.canadianminingjournal.com/issues/story.aspx?aid=1000380572&type=Print%20Archives Now we learn, according to a new article in the Canadian Mining Journal, that TNG is openly attempting to “bypass” (or more accurately break) established laws of Greenland usually governing mining companies. TNG wants the Government of Greenland to grant the company an “exploitation license” in order to commence mining immediately, without providing the usual study. Until now, Greenlandic mining law specifically requires an independent, bankable feasibility study that calculates the operating life of the mine and describes the business plan of the mining company. In all civil society, natural resource development projects, a bankable feasibility plan is a required legal report that is absolutely critical to community and government understanding. Such a study documents the scope of the environmental and social impacts that will require assessment and mitigation. Without it, regulators and concerned citizens are ‘flying blind’ with no idea of precisely what the company intends to do. …