Stornoway Gets Final Clearance For Renard Mine

(IDEX Online News) – Stornoway Diamonds has received environmental clearance from the Quebec government – the final government approval needed to go ahead with the construction of the Renard diamond mine in Canada.

Stornoway has already been issued a mining lease. “As of today we are able to say that the principal regulatory hurdle for the Renard diamond project is behind us,” Matt Manson, Stornoway president and CEO, said in a prepared statement.

The biggest issue now facing the company is   putting together a debt package to build the mine. It has already made headway in this area, having signed a debt mandate with several banks. It has also negotiated a potential $78 million loan from the Quebec government to build a crucial road to the mine.