UK-based exploration and development company Blue-jay Mining has announced it has entered into a conditional agreement for the sale of its Paltamo and Rautavaara nickel-zinc-copper-cobalt projects in Finland to Metals One plc. The deal is for a combination of cash and shares worth a total of GBP 4 million (US$5.6 million), the business said in a statement.
Bo Møller Stensgaard, the CEO of Bluejay Mining, commented that the “Paltamo and Rautavaara projects have the potential to replicate the giant adjacent Talvivaara … mine and we look forward to assist-ing the new team at Metals One to achieve this outcome.”
Bluejay Mining says it is focused on advancing its primary Dundas ilmenite project in Greenland into production in the near term, but also invests in projects related to nickel, copper, lead zinc and platinum.