London Mining (LSE:LOND) said Thursday that it has been awarded a 30-year exploration license for its Isua project in Greenland, Mining Weekly reported.

As quoted in the market news:

Based on a 2012 bankable feasibility study, the Isua project was expected to produce 15-million tonnes a year of premium quality iron pellet feed concentrate with low impurities, based on a one-billion-tonne resource, which could be shipped year-round from a dedicated deep-water port.

Detailed environmental- and social-impact assessments to international standards had also been completed and were subject to public consultation as part of the permitting process.

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