View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
September 20, 2021

Vertical Exploration secures approval for Canada wollastonite project

The vendor will have a 2% net smelter royalty and a $5/t royalty for the first one million tonnes from the project.

Vertical Exploration has obtained full quarry permitting approval from Canada’s Quebec government for its St-Onge Wollastonite project, through its operations partner Magnor Exploration.

Located 90km north-west of Saguenay in Québec’s Saguenay-Lac-St-Jean region, the project comprises 26 map-designated cells that cover a 1,465ha surface area.

With all quarry permits received, Vertical Exploration and Magnor intend to proceed with quarry operations and production of the St-Onge Wollastonite project.

Vertical also plans to complete the final payment instalment of its option agreement to acquire a 100% ownership in the project from the vendor.

Upon completion of the transaction, the vendor will have a 2% net smelter royalty and $5/t royalty for the first one million tonnes from the project and a $1/t royalty for the remaining tonnage.

Vertical Exploration president/CEO Peter P Swistak said: “With permitting in place, we are now in an excellent position to quickly move forward with the production, marketing and sales of our premium Wollastonite.

“The North American agricultural and home garden markets are in need of an environmentally sound natural fertiliser solution, and we believe our premium Wollastonite product will help fill that growing demand.”

Over the past 18 months, the project has secured official quarry permits from various ministries in the Quebec government.

These permits include a Certificate of Authorization (CA) under Section 22 of the Environmental Quality Act from the Quebec Ministry of Environment and Fight against Climate Change (MELCC), and Bail Exclusif pour l’exploitation de substances minérales de surfaces (BEX) 1809 permit the Quebec Ministry of Energy and Natural Resources (MERN).

It also received a permit from MERN for the construction of a building at the mine site for the storage of crushed Wollastonite.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The mining industry's most comprehensive news and information delivered every month. The mining industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU