Pacific Nickel Mines (ASX:PNM) via its 80% owned subsidiary Pacific Nickel Mines Varei has entered into a Surface Access Rights Agreement (SARA) for a mining lease with landowners in respect of the Jejevo Nickel Project on Isabel Island, Solomon Islands.
The company applied for a mining lease for the Jejevo Nickel Project in December 2022. As part of that application, it carried out a preliminary Scoping Study.
Since then, Pacific Nickel Mines has been carrying out landowner meetings and environmental studies in preparation for the Environmental and Social Impact Assessment required.
The development consent and the SARA are key documents required for a mining lease approval by the Mines Department.
In accordance with the terms of the SARA, rental access fees and milestones payments are payable to the landowners whose land is within the mining lease area. The payments terms contemplated are in line with estimates used in the preliminary scoping study undertaken by the Company in support of the Mining Lease application.
Pacific Nickel CEO Geoff Hiller says the company anticipates that the Jejevo Nickel Project can be developed in the same way as the Kolosori Nickel Project which is now advancing to the first shipment of nickel ore.
Write to Adam Orlando at Mining.com.au
Images: Pacific Nickel Mines