Exploration group Ormonde Mining has passed another regulatory hurdle in its bid to mine tungsten in Salamanca, Spain.
The company’s Barruecopardo Tungsten Project has been granted an environmental impact declaration by regional authorities, which is a vital step in gaining approval for the development of a mine in the country.
Ormonde Mining shares in Dublin and London were up sharply on the news.
The company’s managing director Kerr Anderson said the granting of the declaration was “the final step from the regional environmental authorities in their approval process for the development of a tungsten mine at Barruecopardo.
“Receipt of the positive EID paves the way for the Regional Mines Department to be able to issue the Mining Concession for the Project.”
He said the approval validated the “meticulous approach” taken by the company to secure the project, which is the company refers to as a flagship development for its business.
Tungsten is an extremely strong metal which is used in the drilling industry as well as in the manufacture of aircraft, light bulbs and golf clubs.