If any LatAm country awarded an important permit to an exploration stage mining company and later down the line made the unilateral decision to suspend it, you’d never hear the end of the screaming and wailing from the industry. So what’s the difference with this, the cover note to the Trilogy Metals (TMQ) NR in my mailbox today?
Good day everyone,
We have just issued a press release regarding the decision of the United States Department of the Interior’s (“DOI”) decision to suspend the permits for the Ambler Access Project. The DOI has stated that they have suspended the permits so that they can carry out additional work to fix perceived flaws in the existing Environmental Impact Statement (“EIS”) related to Subsistence matters and to Cultural matters. We believe this additional work on the EIS will bring us closer to the development of the AAP
That’s the sound of The USA telling mining companies that their permits aren’t worth the paper on which they’re written. How is any backer supposed to trust a country under these circumstances? Why even bother trying to move a project forward, when some-or-other department bureau chief can swoop in at any moment and reverse the whole process at whim? In this case, we’re talking about permits awarded in 2021 after a slow and rigorous five year track that followed the process to the letter. And now that doesn’t count, because…lawsuit? Because moose? Because of what, exactly? Wasn’t five years enough to work this out?
Imagine Peru, Mexico, Brazil, Chile, Colombia or Argentina trying a trick like this! You’d be howling for blood, accusing one political stripe of Commie Bedwetting, the other side of rampant cronyism and corruption. You’d make loud protests about ever sending a single penny of your cash their way again so I repeat the simple question, what’s the big difference here?