logo-loader

Century Global Commodities says Environmental Impact Statement for Joyce Lake project submitted to federal and provincial authorities

Published: 09:25 27 May 2021 EDT

Century Global Commodities Corp - Century Global Commodities Corporation says Environmental Impact Statement for Joyce Lake Direct Shipping Iron Ore Project submitted to federal and provincial authorities
The environmental assessment by Newfoundland and Labrador authorities is a critical first step towards permitting the construction and operation of Joyce Lake

Century Global Commodities Corporation (TSE:CNT) announced that an Environmental Impact Statement (EIS) for the Joyce Lake Direct Shipping Iron Ore Project has been submitted to federal and provincial authorities. 

The company said its subsidiary and special purpose vehicle Joyce Direct Iron Inc (JDII) filed the EIS with the Impact Assessment Agency of the Canadian government (IAAC) and the Department of Environment and Climate Change of the government of Newfoundland and Labrador (NLDOECC).

Century Global said the EIS has been produced to meet the requirements of the federal guidelines that apply to the project. The EIS states the fundamental elements of the project design and analyzes its environmental, economic, and social impacts with the corresponding mitigation, controls, and benefits that will be present over the operation of the project from construction to closure.  

READ: Century Global Commodities reveals that investee Joyce Direct Iron plans to list on ASX after A$2M financing

The company said the environmental assessment by the government of Newfoundland and Labrador is a critical first step towards permitting the construction and operation of Joyce Lake. 

Hong Kong-based Century Global said the project was originally registered with the NLDOECC in October 2012, while the IAAC determined that a federal environmental assessment was required in January 2013. JDII prepared the EIS in accordance with the requirements of the federal and provincial governments. 

“I’m very pleased with submission of the Joyce Lake EIS to the environmental agencies of Newfoundland and Labrador and the federal government of Canada to officially commence the provincial and continue the federal environmental assessment process,” Century Global CEO Sandy Chim said in a statement.

“This is a significant milestone in the development of the Project, putting us in a position to advance the Project during the window of opportunity provided by a strong recovering iron ore market.”

Joyce Lake, albeit located in Newfoundland and Labrador, is close to the town of Schefferville, Quebec which is serviced by a rail link directly to ocean shipping iron ore ports at Sept-Iles. Century Global believes the project can be brought to production within about 30 months.

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

Century Global says it is making progress with its Joyce Lake project as it...

Century Global Commodities Corp (TSX:CNT) CEO Sandy Chim joined Proactive's Stephen Gunnion to discuss the company's results for the year to March 31, 2022. Chim telling Proactive that the company ended the year with a working capital balance of C$11.3 million. He said the company was...

on 06/28/2022