Tertiary Minerals flags acquisition opportunities

JOHANNESBURG (miningweekly.com) – Aim-listed fluorspar project developer Tertiary Minerals is considering potential acquisition opportunities that will allow it to realise near-term revenue and profit.

The company on Thursday said that, while it remains on track with its fluorspar strategy and the development of its fluorspar assets, it recognises the benefit of finding projects capable of generating revenue and profits in a shorter timeframe than is achievable with it current portfolio of projects.

“We are pleased to have started the evaluation process on a number of acquisition opportunities with the potential to transform the company into being one with sustainable revenues in the near term and which will complement our fluorspar assets currently in development,” said MD Richard Clemmey.

The company’s most advanced fluorspar development project, the Storuman project, in Sweden, has faced delays following changes in the way mine permits are granted in that country.

Tertiary in December revealed new case law had been established on an unrelated mining project in Sweden that has led the country’s Mining Inspectorate to re-examine the basis on which mining concessions have been granted to take into consideration the impact a mining operation may have on its surroundings.

Tertiary noted in a December 15 statement that it believed the environmental-impact assessment prepared for the Storuman project provided sufficient information on the expected environmental impact of the project on its surroundings.