TIDMJAY
RNS Number : 2647D
Bluejay Mining PLC
02 March 2022
Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector:
Mining
2 March 2022
Bluejay Mining plc ('Bluejay' or the 'Company')
ERMA announces official support for Bluejay Mining's
Dundas Ilmenite Project in Greenland
Bluejay Mining plc, the AIM, FSE-listed and OTCQB traded
exploration and development company, and the European Raw Material
Alliance ('ERMA') announce the ERMA's official support for the
Greenland-based Dundas Ilmenite Project ('Dundas' or the
'Project'), enabling it to secure supply of Dundas ilmenite for end
users within the European Union. This will aid the creation of a
secure mining and supply chain option for titanium ore and
concentrate, of which ilmenite is the principal constituent, for
the European Union.
Historically, production of titanium ore and concentrate on the
European continent has been sourced from long established hard-rock
deposits in Norway and mineral sands projects in Ukraine. The
Dundas Ilmenite Project is an independent mineral sand project not
tied directly to any sulphate process titanium dioxide ('TiO2')
pigment producer. Furthermore, ilmenite is also suitable for the
production of slag for direct use in the production of titanium
tetrachloride, an intermediate for both chloride TiO2 pigment and
titanium metal. The development of the Dundas Ilmenite Project,
coupled with the support and promotion from the ERMA, will create
the ability for users within the European Union to increase supply
of this critical material and build a resilient industrial
ecosystem with a territory neighbouring Europe.
Dr Massimo Gasparon, ERMA Director, commented: "It is the
primary role of ERMA to secure raw materials and raw material
supply chains for Europe to support industrial ecosystems within
the European Union. The Dundas Ilmenite Project in Greenland
fulfilled ERMA's qualification requirements. Bluejay operates under
a solid regulatory Greenlandic environmental and social standards
framework and has strong local community support which makes it a
winner for European mining and manufacturing, making the European
Bloc less dependent on other markets.
"This is the first mining project supported by the ERMA in the
Arctic region. The Dundas Project has been granted all political
permits necessary. These include the Exploitation Licence,
Environmental & Social Impact Assessment, Exploitation &
Closure Plan, an Impact Benefit Agreement approved by the
Government of Greenland and the municipality of North-West
Greenland, Avannaata Kommunia. The Project is backed by local
stakeholders and communities, with whom Bluejay has had a long and
constructive relationship.
"We look forward to continuing our collaboration with the
Company on the Dundas Project and to guiding and supporting the
development and input in the financing of this project. This is
undoubtedly one of our most advanced projects to date. With the
recent appointment of a large commercial European investment bank
to lead the arrangement of the Dundas project financing and an
indication of strong interest from overseas buyers, we look forward
to attracting other European agencies for their support of this
exciting project."
Bo Møller Stensgaard, CEO of Bluejay Mining, commented: "The
support of ERMA and other initiatives from the Commission to the
European Parliament on 'Critical Raw Materials Resilience' is
extremely important for the development of the Dundas Ilmenite
Project. The Alliance represents a strong strategic partnership and
network. Its underlying principles fit well with Bluejay's vision
and philosophy for the Dundas operation and bodes well for further
collaborations on the other Greenlandic and Finnish Projects within
Bluejay's extensive portfolio.
"The Dundas Ilmenite Project sets out, together with other
projects in the mineral endowed country, routes for contributing to
the emerging extractive industry in Greenland for the benefit of
Europe and through their reach, to the wider globe. We look forward
to developing further such routes and to strengthening our
cooperation with ERMA."
Titanium use in Europe is largely driven by the use of TiO2 as a
white pigment in paints and polymers, plastics and films and, to a
lesser degree, the metal is used for European aerospace, marine,
defence and energy conversion industrial ecosystems and
applications. However, future applications are expected to see the
demand soar for titanium for 3D printing, the battery and fuel cell
industry (as a potential new anode and coating material) as well as
a strength-to-weight preferred material in, for example, robotics,
drones, and light vehicles.
The Project is expected to fulfil the highest environmental and
social standards which are set by Greenland's authorities.
Additionally, being geographically close to Europe and the US
provides multiple export opportunities in addition to those already
planned under Bluejay's arrangement with its Master Distribution
Partner. Furthermore, the Project represents an exceptional
opportunity for collaboration on educational activities and best
mining practice for the emerging mining sector in Greenland; a
component that the ERMA will continue to support.
Contacts:
Kevin Sheil Bluejay Mining plc enquiry@bluejaymining.com
SP Angel Corporate Finance
Ewan Leggat LLP
/ (Bluejay Mining Nominated
Adam Cowl Adviser) +44 (0) 20 3470 0470
--------------------------------- ----------------------------------
Hannam & Partners
(Bluejay Mining Advisory)
Andrew Chubb LLP +44 (0) 20 7907 8500
--------------------------------- ----------------------------------
Tim Blythe
/ BlytheRay
Megan Ray (Bluejay Mining Press Contact) +44 (0) 20 7138 3205
--------------------------------- ----------------------------------
Vanessa Lorenz EIT RawMaterials Press Contact, vanessa.lorenz@eitrawmaterials.eu
Head of Communications.
EIT RawMaterials /
European Raw Material Alliance
--------------------------------- ----------------------------------
About The European Raw Material Alliance
Metals, minerals and advanced materials are the key enablers for
a globally competitive, green, and digital Europe. The European Raw
Materials Alliance (ERMA) contributes to ensure a reliable, secure
and sustainable access to raw materials. ERMA's vision is to secure
access to critical and strategic raw materials, advanced materials,
and processing know-how for EU Industrial Ecosystems. The alliance
brings together all relevant stakeholders, including industrial
actors along the value chain, Member States and regions, trade
unions, civil society, research and technology organisations,
investors and NGOs. ERMA is managed by EIT RawMaterials, a
Knowledge and Innovation Community of the European Institute of
Innovation and Technology (EIT), a body of European Union.
About Bluejay Mining Plc
Bluejay is listed on the London AIM market and Frankfurt Stock
Exchange and its shares also trade on the OTCQB Market in the US.
With multiple projects in Greenland and Finland, Bluejay has now
secured four globally respected entities as partners, customer, and
co-investor on three of its projects, giving the Company and its
shareholders both portfolio and commodity diversification in high
quality jurisdictions. Bluejay has signed a definitive joint
venture agreement with KoBold Metals to guide exploration for new
deposits rich in the critical materials for electric vehicles (The
Disko-Nuussu a q Project). Principal investors in KoBold include
Breakthrough Energy Ventures, a climate & technology fund,
overseen by Bill Gates, and whose investors include Michael
Bloomberg, Jeff Bezos, and Ray Dalio. Other investors in KoBold
include Andreessen Horowitz, the premier Silicon Valley venture
capital fund and Equinor, the Norwegian state-owned multinational
energy company.
Bluejay's most advanced project is the Dundas Ilmenite Project
in Greenland, which is fully permitted and being developed towards
production in the near term, with preparatory activities scheduled
to commence in 2022. The Dundas Ilmenite Project has been proven to
be the highest-grade mineral sand ilmenite project globally, with a
Mineral Resource reported in accordance with the JORC Code of 117Mt
at 6.1% ilmenite and a maiden offshore Exploration Target of
between 300Mt and 530Mt of ilmenite at an average expected grade
range of 0.4 - 4.8% ilmenite in-situ. The Company has agreed a
Master Distribution Agreement with a major Asian conglomerate for
up-to 340ktpa of its anticipated 440ktpa annual output. The Company
has signed on a major European bank to head the financing syndicate
for Dundas. The Company's strategy is focused on securing financing
ahead of commencing commercial production at Dundas in order to
create a company capable of self-funding exploration on its current
and future projects.
Bluejay holds two additional projects in Greenland - the 692sq
km Kangerluarsuk zinc-lead- silver project ('Kangerluarsuk'), where
historical work has recovered grades of 41% zinc, 9.3% lead and 596
g/t silver and identified four large-scale drill ready targets; and
the 2,025 sq km Thunderstone project which has the potential to
host large-scale base metal and gold deposits. Bluejay has agreed a
joint-venture agreement with a mining major at its Enonkoski
Project in Finland and has recently signed a binding agreement for
a partial divestment in a fourth Finnish project.
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