Strategic Minerals Europe Receives Spanish Court Decision Regarding the Penouta Project Section C Permit
TORONTO, Oct. 20, 2023 /CNW/ - Strategic Minerals Europe Corp. (NEO: SNTA) (FRA: 26K0) (OTCQB: SNTAF) ("Strategic Minerals" or the "Company"), today announces that the Superior Court of Xustiza of Galicia (the "TSXG") has decided to provisionally suspend (the "Decision") the section C permit for the Company's Penouta tin-tantalum mine in Spain (the "Penouta Project").
The decision of the TSXG relates to a complaint (the "Claim") filed by an environmentalist group known as "Ecoloxistas en Acción" against the local mining authority Xunta de Galicia (the "Xunta"), requesting a revocation of the section C permit granted to the Company in May 2022. In the Company's opinion, the Claim and therefore the Decision is based on inaccurate assertions that exploitation activities at the Penouta Project are affecting irrigation and the immediate area.
The Company firmly believes that the Claim has no merit and that the Decision of the TSXG against the Xunta cannot be justified under Spanish law. The Company affirms to its shareholders that: (i) the Claim is not against the Company; (ii) the proper legal process for the grant of the section C permit by the Xunta to the Company adhered to all applicable consultative, regulatory and legal requirements (environmental, administrative or otherwise); and (iii) the Company's mineral exploitation activities at the Penouta Project have always remained in strict compliance with all environmental controls and reporting requirements, including but not limited to: (a) testing water quality and discharge; (b) monitoring air quality, flora and fauna; and (c) the reforestation of areas of the Penouta Project that had been abandoned by the previous operators approximately 40 years ago.
The Company and the Xunta are exploring all available legal avenues to reverse the decision of the TSXG and to expedite the reinstatement of the section C permit. This includes the initiation of an appeal to reverse the Decision. While the Company is in the process of appealing the Decision, it is permitted to continue conducting mineral exploitation operations at the Penouta Project.
Jaime Perez Branger, Chief Executive Officer of the Company stated: "the unilateral and unfounded decision of the TSXG to suspend the section C permit at the Penouta Project is a decision we cannot support and which compromises the coexistence between the mining industry and nature as well as affects the economic viability of the Penouta Project and livelihood of hundreds of families. Strategic Minerals has always engaged in responsible mining practices and operated within Spanish mining law regulations. We believe that the decision of the TSXG disregards the comprehensive environmental regulations currently in place and the administrative process the Company went through to ensure that such regulations were followed, and will be a detrimental precedent to the economic prosperity, job creation and technological innovation of the mining industry in Spain and elsewhere. We will relentlessly explore all avenues of appeal, not only for the sake of our employees, the community, our shareholders and business partners, but also for the promise of sustainable growth, shared prosperity, and environmental responsibility."
Pablo Fernández Vila, director general of the Xunta, stated: "The concession to exploit section C was granted after a rigorous process and in accordance with current legislation."
The Company remains dedicated to responsible and sustainable mining practices and will diligently address any concerns raised throughout this process. The Company values its role as a responsible corporate citizen and is confident in the integrity of its operations related to the Penouta Project and elsewhere.
Strategic Minerals' wholly-owned subsidiary, Strategic Minerals Spain, S.L.U. ("SMS"), produces, identifies, explores, and develops mineral resource properties critical to the green economy, predominantly in Spain. SMS holds permits and a production license for the Penouta Project. SMS is the largest cassiterite concentrate and tantalite producer in the European Union and has been recognized within the EU as an exemplary company of good practices in the circular economy. The Company is well-positioned as a major producer of sustainable and conflict-free tin, tantalum, and niobium. Strategic Minerals is a "reporting issuer" under applicable securities legislation in the provinces of British Columbia, Alberta, and Ontario.
Additional information on Strategic Minerals can be found by reviewing its profile on SEDAR+ at sedarplus.com and its website at www.strategicminerals.com.
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Strategic Minerals to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risks Factors" in the Company's Annual Information Form dated March 30, 2023, which is available for view on SEDAR+ at www.sedarplus.com. These risks include, but are not limited to, the risks associated with the mining and exploration industry, such as operational risks in development or capital expenditures, the uncertainty of projections relating to production, and any delays or changes in plans with respect to the exploitation of the site. Strategic Minerals disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
SOURCE Strategic Minerals Europe Corp.
regarding Strategic Minerals, please contact: Elena Terrón, Corporate Secretary, Strategic Minerals Europe Corp., [email protected]; Craig MacPhail, NATIONAL Capital Markets, [email protected], 416-525-5709
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