LONDON (Reuters) – Canadian miner Dalradian Resources (DNA.TO) has filed a planning application and secured a new tranche of funds to build Northern Ireland’s first major underground gold mine, with the potential to create hundreds of jobs.
Mining has largely died out in Britain, but the sector sees the potential for a revival as the government pushes an industrial strategy to reboot an economy overshadowed by the decision to leave the European Union. It is also seeking to create jobs beyond the most affluent London area.
Dalradian, which is listed in Toronto and on London’s AIM, acquired mineral rights in 2009 to more than 80,000 hectares of land in Northern Ireland, including the Curraghinalt gold deposit.
Since then it has carried out exploratory drilling at Curraghinalt and compiled a planning application running to 10,000 pages, which it expects to take about two years to process, including a public enquiry.
On Monday it announced that it had submitted the planning application and secured an extra 78.25 million Canadian dollars ($61.6 million) in funding from Orion Mine Finance and Osisko Gold Royalties, two big North American mine finance companies.