Bluejay can be protecting its Outokumpu copper gold cobalt venture and it’ll proceed exploring across the historic Hammaslahti copper mine in Finland.
“The Paltamo and Rautavaara initiatives have the potential to duplicate the large adjoining Talvivaara nickel-zinc-copper-cobalt mine,” Bluejay chief government Bo Møller Stensgaard stated within the assertion.
Because the demand for nickel for electrical car batteries is expected to increase ten-fold by 2030 from 2019 ranges, issues across the environmentally-conscious provide of the steel are additionally on the rise.
Tesla (NASDAQ: TSLA) boss Elon Musk is attempting to mitigate that affect with a soar in nickel mining by offering a “giant contract for a long period of time” to any agency capable of extract it in an environment friendly, environmentally sustainable method.
Prime miners have aggressively been buying nickel initiatives during the last 12 months, with Canada’s Noront Sources (TSX-V: NOT) at the moment on the centre of a bidding struggle between BHP (ASX, LON, NYSE: BHP) and Australian mining billionaire Andrew Forrest’s Wyloo Metals.
Bluejay’s flagship asset is the Dundas ilmenite venture on the northwest coast of Greenland, 80 km north of the city of Qaanaaq.
After acquiring the exploitation permit in December, the junior has centered on securing financing forward of commencing business manufacturing.
The allow, legitimate for an preliminary 30-year interval, permits Bluejay to provide 440,000 tonnes of ilmenite yearly over an preliminary mine lifetime of 11 years. The mineral is taken into account a very powerful ore of titanium, used commercially within the manufacturing of paint, adhesives and private care merchandise similar to toothpaste.