Dalradian Resources Inc. is pleased to announce that it has submitted its planning application to permit the building of an underground mine and associated infrastructure at the Curraghinalt gold deposit in west Tyrone to the Northern Ireland Department for Infrastructure.
The Company has also secured C$78.25 million (£46.3 million) of financing from Orion Mine Finance Fund II LP and Osisko Gold Royalties Ltd, two of the top mine finance groups in the world.
Dalradian Chief Executive Patrick F. N. Anderson commented:
“This is an exciting day for Dalradian and for Northern Ireland. It is the culmination of seven years of exploration, engineering and environmental work on the Curraghinalt deposit and financings that have raised more than C$260 million for our work in Northern Ireland. We have transformed the project from a small, early-stage deposit to one of the best gold projects on the planet. Building and operating a mine at the Curraghinalt deposit will create at least 350 permanent direct jobs and is expected to give a US$1 billion boost to the local economy over the 25-year life of mine in the planning application. This will be one of the largest foreign direct investments to be made in Northern Ireland in recent years.
“We are proud of the rigor and quality of the application. It comprises more than 10,000 pages, including nearly 40 detailed reports by independent experts from globally recognized environmental consulting firms. I am confident our submission demonstrates that we can deliver a sensitively designed and well-thought-out project that will provide economic benefits to the region and solid returns to our shareholders using environmental best practices. We appreciate the contributions of local residents, consultants, regulators and other stakeholders whose input has contributed to our plans for a mine at Curraghinalt.
“We are confident that a gold mine in Tyrone will not be only be economically transformative for the county but will help support a range of businesses across Northern Ireland. We are proud to be building on Tyrone’s strong engineering and manufacturing base.
“Orion and Osisko are two of the top mine finance groups in the world. Their investment in Dalradian is a strong vote of confidence in our project and Northern Ireland. As a result, we are entering permitting with substantial funding that will allow us to continue to explore and further prove up the potential of the project. Our ongoing investment will ensure continued economic benefits to Northern Ireland through our training initiatives, jobs and supplier opportunities.’’
The project currently supports more than 100 jobs at the exploration site at Curraghinalt.
The Planning Application Process
The Planning Application to permit the building of a mine at Curraghinalt is supported by an Environmental Statement, including contributions from many local agencies and independent experts. Dalradian has held over 40 meetings with government regulators along with consultation sessions attended by more than 270 people to gain vital information needed to finalize the Planning Application. In addition, more than 800 people have attended our tunnel and site tours since the summer of 2016 to learn more about the project.
The Curraghinalt Project was deemed “regionally significant” and therefore the decision to grant planning approval rests with the DfI.
Now that the Planning Application has been submitted to the DfI, the application will follow the Planning Review process:
- Validation of Planning Application
- First round of consultation by DfI with the public and statutory consultees, including regulatory agencies and DfI consultants
- Request for further environmental information, if necessary
- Further consultation by DfI with the public and statutory consultees
- DfI officers’ recommendation to the Minister for Infrastructure/Permanent Secretary
It is anticipated that this part of the process would take up to one year.
Given the scale of the project, it is expected that a public inquiry will be held prior to a final decision being taken, which takes approximately one year.
The Planning Application will soon be publicly available at https://www.planningni.gov.uk/index/tools/public-access-info.htm.
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