Arianne Phosphate secures approval for $1.2bn Lac à Paul project in Canada

22 December 2015 (Last Updated December 22nd, 2015 18:30)

Arianne Phosphate has secured approval from the Government of Quebec in Canada to develop its proposed $1.2bn Lac à Paul project in the province's Saguenay-Lac-Saint-Jean region.

Arianne Phosphate has secured approval from the Government of Quebec in Canada to develop its proposed $1.2bn Lac à Paul project in the province's Saguenay-Lac-Saint-Jean region.

Following the approval, the company now plans to finance the mine's construction.

Arianne will also continue its ongoing talks with potential corporate, strategic and financial partners with regard to the project.

"The deposits will produce a quality igneous apatite concentrate grading 39% P2O5 with few contaminants."

Arianne Phosphate COO Jean-Sebastien David said: "The ministerial decree represents the most significant milestone to date for the project and with it, Arianne now has the permission it needs to go ahead with the development of its proposed $1.2bn phosphate project.

"The board and the Arianne team want to thank the Government of Quebec for the confidence they have shown in this project through the issuance of the Decree and, of course, greatly appreciate the support we have received from the municipalities and organisations that have been behind this project."

Arianne is developing the Lac à Paul phosphate deposits 200km north of the Saguenay/Lac St. Jean area of Quebec.

The deposits will produce a quality igneous apatite concentrate grading 39% P2O5 with few contaminants.

On 25 October 2013, the company released the completed feasibility study (FS) of the open-pit mine project.

The FS outlines an open-pit mine, a concentrator producing quality apatite concentrate, in addition to a transport system delivering the product to a deepwater port on the Saguenay River.