Gold firm Dalradian submits planning application for controversial $1bn mine in Co Tyrone
Gold firm Dalradian Resources has submitted its planning application for the creation of a controversial $1bn (£750m) mine in Co Tyrone.
Millions of ounces of the precious metal have been identified at Curraghinalt near Gortin. Dalradian has said the mine would generate $1bn for the economy over 25 years.
Environmental protesters have campaigned against the development but some local people are supportive after a community fund was established by the firm.
The company says it currently currently supports more than 100 jobs at the exploration site at Curraghinalt and will create 350 permanent direct jobs when the mine is fully operational.
The Company has also secured C$78.25 million (£46.3 million) of financing from two of the top mine finance groups - Orion Mine Finance Fund II LP and Osisko Gold Royalties Ltd.
Dalradian Chief Executive Patrick F. N. Anderson said: “This is an exciting day for Dalradian and for Northern Ireland. It is the culmination of seven years of exploration, engineering and environmental work on the Curraghinalt deposit and financings that have raised more than C$260 million for our work in Northern Ireland.
"We have transformed the project from a small, early-stage deposit to one of the best gold projects on the planet. Building and operating a mine at the Curraghinalt deposit will create at least 350 permanent direct jobs and is expected to give a US$1 billion boost to the local economy over the 25-year life of mine in the planning application.
"This will be one of the largest foreign direct investments to be made in Northern Ireland in recent years.
"We are proud of the rigor and quality of the application. It comprises more than 10,000 pages, including nearly 40 detailed reports by independent experts from globally recognized environmental consulting firms."
He added: "I am confident our submission demonstrates that we can deliver a sensitively designed and well-thought-out project that will provide economic benefits to the region and solid returns to our shareholders using environmental best practices. We appreciate the contributions of local residents, consultants, regulators and other stakeholders whose input has contributed to our plans for a mine at Curraghinalt.
“We are confident that a gold mine in Tyrone will not be only be economically transformative for the county but will help support a range of businesses across Northern Ireland. We are proud to be building on Tyrone’s strong engineering and manufacturing base.
"Orion and Osisko are two of the top mine finance groups in the world. Their investment in Dalradian is a strong vote of confidence in our project and Northern Ireland. As a result, we are entering permitting with substantial funding that will allow us to continue to explore and further prove up the potential of the project. Our ongoing investment will ensure continued economic benefits to Northern Ireland through our training initiatives, jobs and supplier opportunities.’’
Belfast Telegraph Digital