The Portuguese government has recognized Ascendant Resources’ (TSX: ASND | OTCQB: ASDRF) polymetallic Lagoa Salgada volcanogenic massive sulphide project as a Project of National Interest (PIN).
The award, dated 4 April 2022, was bestowed on the company by the Agência para o Investimento e Comércio Externo de Portugal (AICEP) for various economic, environmental, and social factors, as well as the project’s positive impact on the local municipalities covered by the mining concession, the region, and for Portugal.
Lagoa Salgada is the first mining project to receive recognition of this kind in the country.
The award gives Ascendant’s project direct access to the Portuguese government and ensures that all interactions with public entities involved in the environmental and construction permitting process, as well as all procedures for licencing, will be facilitated and simplified through AICEP while complying with all applicable regulations.
The development of the project will now be subject to continuous follow-up by the Permanent Commission for Investor Support to ensure swift progress to the benefit of the national interest, the company noted.
Mark Brennan, Ascendant Resources’ executive chairman, said that this recognition is a very significant milestone for the project.
“We view this as a strong endorsement of the benefits the Lagoa Salgada project will bring to the communities of Grândola and Alcácer do Sal, who have been extremely supportive to date, and Portugal itself.
“We welcome the additional assistance of AICEP to help fast-track permitting and development of the project as we move through the development process,” said Mr Brennan.
To find out more, visit: https://www.ascendantresources.com/Home/default.aspx
