Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Canadian junior Stornoway Diamond Corporation (TSX-SWY) announced Thursday it has received an award for the “high level of environmental and social responsibility” shown in the advancement of the Renard Diamond Project.
The E3 Plus honour was given during the annual meeting of the Québec Mineral Exploration Association (AEMQ) held this week in Québec City.
In a statement, Stornoway’s President and CEO, Matt Manson qualified the prize as a recognition to the “many years of high quality work undertaken to establish the environmental and social framework necessary for the successful development of the Renard Project.”
He added that throughout the project’s permitting process, which is now nearing completion, the company’s team has conducted regular community exchange meetings designed to tailor specific elements of the mine design to local concerns.
Partnership agreements have been signed with the Crees of the Eeyou Itschee and the communities of Chibougamau and Chapais.
The Renard Diamond project is located approximately 250 km north of the Cree community of Mistissini and 350 km north of Chibougamau in the James Bay region of North-Central Québec.
Renard’s probable reserves stand at 18.0 million carats, with a further 17.5 million carats in Inferred Mineral Resources, and 23.5 to 48.5 million carats classified as non-resource exploration upside.
Image By LlGC ~ NLW
