Novagold just announced that they got a B.C. environmental certificate on their Galore Creek project.
Should be good for Romios Gold (RG.V) as well-
I am long Romios and may get long Nova-
This market is unbelievable.....
--------------------------------------------------------
NovaGold gets Galore Creek environmental certificate
2007-02-23 09:32 ET - News Release
Mr. Rick Van Nieuwenhuyse reports
NOVAGOLD RECEIVES GALORE CREEK PROJECT ENVIRONMENTAL CERTIFICATE APPROVAL
NovaGold Resources Inc. has received from the Province of British Columbia the environmental assessment certificate for the company's Galore Creek copper-gold-silver project in northwestern British Columbia, following a comprehensive review led by B.C.'s environmental assessment office.
The Galore Creek environmental assessment process was initiated in February, 2004. As part of the comprehensive assessment effort, NovaGold entered into the collaborative study and review process with the Tahltan First Nation, B.C. provincial and Canadian federal agencies, and United States federal and Alaska State agencies to develop a detailed plan for the development, operation and closure of a mine at Galore Creek, with a minimum overall environmental impact. During the process a series of public meetings were held in various communities in Northern British Columbia and Alaska to allow for input into the project from local communities in the region.
In its comment letter to the British Columbia environmental assessment office, the chair of the Tahltan central council, stated: "The Tahltan believe that NovaGold provides the leadership, management and vision, in partnership with the Tahltan Nation, to make the Galore Creek project socially and environmentally sustainable. The present leadership of NovaGold is creative and transformative in its approach to the relationship with the Tahltan Nation and in taking mining to the next level of social and environmental responsibility. NovaGold is the mining industry leader in Tahltan territory and will ensure mining brings more benefits than impacts to the Tahltan and B.C. citizens."
"We are very pleased to have received the timely approval of our environmental certificate for the Galore Creek project. This is a major step toward the development of what will be one of the largest new mines in Canada. The issuance of the environmental certificate is the culmination of three years of dedicated collaborative work by our Galore Creek project team and contractors, staff at the various government agencies and our partners the Tahltan First Nation. We are grateful for the contributions from everyone who worked to achieve this major milestone for the project," said Rick Van Nieuwenhuyse, president and chief executive officer of NovaGold. "We look forward to developing Galore Creek as a model of how a mine can be built and operated in a socially and environmentally sustainable manner."
The Galore Creek project has also been subject to a comprehensive level review under the Canadian Environmental Assessment Act (CEAA) due to authorizations required by Fisheries and Oceans Canada, Transport Canada, Environment Canada and Natural Resources Canada. The B.C. environmental assessment office and federal agencies have harmonized the environmental assessment process and prepared a joint comprehensive study report/assessment report for the decision makers. The final public comment period on the comprehensive study report, as required by the Canadian Environmental Assessment Act (CEAA), was completed on Feb. 19, 2007.
The joint provincial and federal assessment report concludes that effects from the project will be within acceptable levels, subject to adherence to the application's design components and implementation of mitigation measures and commitments agreed to by NovaGold. Approval of the project's environmental certificate now clears the way for the issuance of the various permits and authorizations required to construct and operate the mine. Those approvals are anticipated to be received in the second quarter with construction of the project targeted to begin by mid-2007.
The provincial environmental assessment certificate contains a series of project-specific commitments that NovaGold will implement, or continue to implement, throughout the various phases of the project. These include continuing assessment of water-treatment options, maintaining aquatic, fisheries and wildlife-monitoring programs, continuing the collection, and analysis of water, sediment and biota, developing a long-term maintenance and mitigation strategy for the tailings impoundment dam and spillway, and developing a wildlife mitigation and monitoring plan to identify measures to further reduce effects on wildlife.
About the Galore Creek project
Located in northwestern British Columbia, Galore Creek is one of the largest undeveloped copper-gold-silver projects worldwide. As envisioned, the Galore Creek deposit would be developed as an open-pit mine at a 65,000-tonne-per-day processing rate over a minimum 20-year mine life. The project will create up 1,000 jobs during the construction phase and approximately 500 direct employees during operation.
In February, 2006, NovaGold entered into a comprehensive agreement with the Tahltan First Nation to support development of the Galore Creek project. The agreement supports the Tahltan Nation's principles of environmental stewardship, economic sustainability and self-determination, and ensures collaboration throughout the environmental assessment review and the permitting process.
We seek Safe Harbor. |
