The 20-year lease represents the formal transfer of the mineral title from Québec to Stornoway.
The mine Renard Diamond Project is located 250km north Mistissini and 350km north of Chibougamau in North-Central Québec.
Commencement of construction now awaits a ‘Certificate of Authorization’ from the Québec Ministère du Développement Durable.
Stornoway President and CEO Matt Manson commented, "The Mining Lease is an important milestone in the mine permitting process in Québec.
"Its issuance ahead of the project’s Certificate of Authorization reflects the broad consensus of support that the project has achieved during the last two years of environmental study and community engagement. We remain on track to achieve regulatory approval for Renard this year," Manson added.
