6th Jun 2016 07:13
LONDON (Alliance News) - FinnAust Mining PLC on Monday said it has hired Royal IHC to provide support services for the Pituffik titanium project in Greenland.
Royal IHC provides wet mining services, dredging equipment and maintenance and support services for marine dredging and wet mining work.
FinnAust said it will work with Royal IHC on defining an optimised development plan for the project.
"Based on the results of work conducted to date it is my belief that Pituffik has significant commercial value, with the potential to support a long-term mining operation exploiting what is a high-grade ilmenite occurrence. We are committed to implementing a fast paced development strategy and look forward to working with our newly expanded advisory team to achieve this," said FinnAust Chief Executive Roderick McIllree.
Shares in FinnAust were up 3.5% to 5.9 pence Monday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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