Boliden closing in on deal for Lundin’s European mines
A deal would cement Boliden’s position as one of Europe’s biggest producers of zinc.
Boss Power (CVE:BPU), which successfully settled a lawsuit on Thursday with the Province of British Columbia, is now looking at ways to spend its $30 million award.
In a statement, the company said that it will seek out new exploration projects and become an active participant in the junior resource sector.
“Junior resource issuers need more than viable geological targets to return value to shareholders,” said President and CEO Randy Rogers.
“For a company to thrive in any given jurisdiction we need political stability and security of tenure. The Province of British Columbia has indicated by settling this expropriation lawsuit that they are willing to listen to the concerns of the exploration industry and now has a chance to demonstrate to the world that British Columbia remains a safe place for exploration investment.”
In 2008, the province announced that it would not support uranium exploration and development, and prohibited related permits being issued to any company in 2009. At that time, Boss Power Corp. held a pre-existing claim to uranium deposits in that area.
The Association for Mineral Exploration BC is critical of the provinces stance not to allow uranium or thorium mining.
“Fundamentally, we believe the ban on uranium and thorium exploration is an unsound public policy based on very little science and enacted without due process or public consultation,” said Gavin C. Dirom, President & CEO of AME BC.
“We hope to bring balance to the issue by working with government and the public to increase the understanding of the permitting process and geoscience through wider education and outreach. Ultimately, this should increase certainty about where responsible mineral exploration and development are permitted, restore the public’s and industry’s confidence and attract investment to the benefit of all British Columbians,”
