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FinnAust Mining expands copper-gold-zinc licenses in Finland

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London based copper mining developer FinnAust, which has copper, zinc and nickel projects in Finland, Austria and Greenland, said it has been granted additional licences around the Hammaslahti copper-gold-zinc project, the Outokumpu copper project and the Kelkka nickel project, all in Finland.

FinnAust Mining PLC on Thursday said it has secured further licences around its three projects in Finland, while it still is awaiting regulatory approval in Greenland for the acquisition of Bluejay Mining Ltd.

The expansion of its licence area will boost its Finnish portfolio and position the company for when the commodity prices improve.

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“Our Finnish assets are highly prospective and the receipt of these additional licences demonstrate our commitment to the Finland project areas and highlight the value upside we still see in this region,” said Roderick McIllree, FinnAust’s chief executive.

Elsewhere, the group said it is still awaiting approval from authorities in Greenland for its acquisition of a 60% stake in Bluejay Mining Ltd. FinnAust said the approval was taking longer than expected but said it remains confident the deal will be done soon.

source; LSE.co.uk

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