Shares in exploration group Ormonde Mining rose sharply in Dublin and London today after it reported progress on the development of its Barruecopardo tungsten project in Salamanca in Spain.
Tungsten is a very strong metal which is used in the drilling industry as well as in the manufacture of aircraft, light bulbs and golf clubs.
Ormonde said it has received formal written notification from the Regional Environmental Department in Castilla y Leon of a positive outcome in the report on the nature network, which is necessary to allow the site's environmental impact declaration.
"The approval notification states that the Barruecopardo project will not adversely affect the integrity of the areas of wildlife and flora/fauna habitat in proximity to the proposed mining operation," the company said.
"In our proposals for the re-development of mining operations at Barruecopardo, we have from the outset been very conscious of mitigating as far as possible any impacts the project may have on the local wildlife and plant habitat," commented Ormonde's managing director Kerr Anderson.
"This is a significant step forward for the project and one which now paves the way for the granting of the all-important Environmental Impact Declaration," Mr Anderson added.