Canada’s Critical Elements Lithium has obtained a favorable decision from the country’s Ministry of Environment and Climate Change with respect to its Rose lithium-tantalum mining pro-ject.
“In a Decision Statement, which includes the conditions to be com-plied with by the Company, the Minister confirms that the Project is not likely to cause significant adverse environmental effects when mitigation measures are taken into account,” the company said in a statement.
“The final remaining step in the Project’s approval is the completion of the provincial permitting process, which runs parallel to the federal process,” according to the miner.
Located in the Nord-du-Québec administrative region, Rose is the firm’s first lithium project to be advanced within a land portfolio of more than 700 square kilometres.
“The internal rate of return for the Project is estimated at 34.9% after tax,” the company said, adding that its net present value is estimated at C$726 million (US$579 million) at an 8% discount rate.