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Tertiary Minerals said Tuesday that the tenure of its Sivakkalehto claims (exploration licences) in the Kolari iron district of northern Finland has been extended by the Finnish Ministry of Employment and Economy for a period extending to October 31, 2010, within which period the Company may apply for a mining lease.
Commenting Tuesday, Cheetham, Chairman of the Company said "This is a pleasing development that clears the way for a committed programme to evaluate the potential of the project to become a supplier of high grade iron concentrates to European markets."
Whilst the application to extend the tenure of the Sivakkalehto claims was originally made in September 2007, the grant has been delayed by a backlog of claim applications and administrative issues at the Ministry in Finland.
(END) Dow Jones Newswires
12-09-08 0224ET
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