Royal Nickel has secured the necessary permit to begin construction on a new nickel mine in Quebec, Canada, by early 2016.
The company is set to complete financing of the $1.2bn Dumont Nickel project by the end of 2015.
Royal Nickel has received the Certificate of Authorization for the project from the Quebec Ministry of Sustainable Development, Environment and the Fight Against Climate Change.
Royal Nickel president and CEO Mark Selby said: "The Certificate of Authorization is the most important milestone achieved to date for the Dumont project.
"Following the appointment of Swedbank as advisors for our contemplated $600m senior bond financing, we expect to build on this positive momentum in the coming months."
The company claimed that the mine will contribute significantly to the Quebec economy as a long-term and low-cost producer of nickel concentrate, upon completion of construction.
Prior to grating the certificate of authorisation for Dumont, the Quebec Bureau d’audiences publiques sur l’ environnement (BAPE) conducted a comprehensive environmental and social impact assessment, as well as public consultations.
In order to begin construction activities, a company needs to obtain the Certificate of Authorization as the main permit under the Quebec Environment Quality Act, the company said.
Royal Nickel’s Dumont Nickel project is located in the Abitibi mining camp, in the municipalities of Launay and Trécesson.
The company also has interests in two nickel exploration properties, which include the Aer-Kidd project near Sudbury, Ontario, as well as the West Raglan project in northern Quebec.