Latitude 66 provided an update on the legal situation regarding the mining rights at the KSB North Project. On November 15th the Finnish Administrative Court ruled to uphold an appeal against the extension of the mining leases, adding uncertainty to the future of the project. The company now filed an appeal against the decision to the Supreme Administrative Court.
Consultation with the authorities further clarified that the company has a clear path forward to retaining ownership of the deposit, even if the currently active mining rights were to lapse. According to the authorities, following the expiration of the mining lease, applications for new exploration or mining permits are restricted to those with landowner consent, which Latitude 66 has received (partly through outright land ownership).
Landownership situation at the KSB North project (Source: www.lat66.com)
