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Critical Elements (TSXV:CRE) moving forward on Rose Lithium-Tantalum Project in Quebec
Caroline Egan
13 May 2022 13:15 (EDT)
- Critical Elements Lithium Corporation (CRE) has received approval for its plan to rehabilitate and restore its Rose Lithium-Tantalum Project
- The approval is a prerequisite to obtaining a mining lease
- The next steps are to outline estimated costs and schedule payment plans
- The last step to getting the project up is obtaining a provincial permit
- Critical Elements is working on becoming a large and responsible lithium supplier
- Critical Elements Lithium Corporation (CRE) is up 11.47 per cent and is trading at $1.36 per share as of 12:54 p.m. ET
Critical Elements Lithium Corporation (CRE) has received approval for its plan to rehabilitate and restore its Rose Lithium-Tantalum Project
The approval, from the Quebec Minister of Energy and Natural Resources, is a prerequisite to obtaining a mining lease. The company has outlined the work needed for the project and its estimated costs.
Critical Elements’ next steps are to draft a guarantee explaining how it will cover the estimated costs and schedule payment plans.
During the summer, the Federal Minister of Environment and Climate Change, Steven Guilbeault, stated that the Rose Project is not considered a threat to the environment so long as appropriate measures stay in place.
The last step to getting the project up is obtaining a provincial permit.
The provincial environmental assessment for the permit involves the Cree Nation Government and the Government of Quebec under the Environmental and Social Impact Review Committee (COMEX).
According to Critical Elements, it has already answered several rounds of questions from COMEX.
Critical Elements is working on becoming a large and responsible supplier of lithium to the electric vehicle and energy storage system industries.
Critical Elements Lithium Corporation (CRE) is up 11.47 per cent and is trading at $1.36 per share as of 12:54 p.m. ET.