27th Mar 2023 13:18
(Alliance News) - First Tin PLC on Monday said the Saxonian Mining Authority has reviewed the company's plans for its wholly-owned Tellerhauser project in Germany.
The Germany and Australia-focused tin development company confirmed the asset's eligibility to move straight to the construction and operational permitting process, reducing the overall permitting time frame by a period of up to 12-18 months.
The decision was made due to the minimal environmental footprint that the project is anticipated to have throughout both the construction and production phases, it said.
First Tin added it has developed a plan for Tellerhauser, aiming to ensure it has minimal impact on nature and the environment. This is in line with its ambition to "deliver an [environmental, social and governance] compliant source of tin to meet rising demand for this critical metal in Europe and beyond".
Chief Executive Officer Thomas Buenger said: "This approval from the authorities is a welcome step in advancing our mining activities at our Tellerhauser asset and is testament to our early-stage commitment to best-in-class environmental responsibility. There is a critical need for ESG and conflict-free sources of tin and we believe this represents a strong endorsement of our project and its future benefits from the mining authorities.
"We are progressing well towards the completion of the definitive feasibility studies and permitting processes at both our assets and look forward to keeping shareholders updated with further progress as we bring the projects into production in a timely manner."
Shares in First Tin were up 0.9% to 7.16 pence each in London on Monday afternoon.
By Greg Rosenvinge, Alliance News reporter
Comments and questions to [email protected]
Copyright 2023 Alliance News Ltd. All Rights Reserved.