December 9, 2011 / 12:07 PM / 6 years ago

Canadian Zinc's flagship mine gets environmental nod

(Reuters) - Canadian Zinc Corp CZN.TO said it received an environmental approval for its flagship Prairie Creek mine in Canada’s Northwest Territories, sending its shares up as much as 19 percent.

The Mackenzie Valley Environmental Impact Review Board (MVEIRB), which is responsible for environmental impact assessment in Canada’s Mackenzie Valley, concluded that the mine is unlikely to have any significant adverse impact on the environment.

The Board suggested that the project should now go to the permitting stage managed by the Mackenzie Valley Land and Water Board (MVLWB) for the issue of licenses, the company said in a statement.

The Prairie Creek mineral deposit, located in the Northwestern Territories of Canada, is known for its zinc, lead and silver deposits.

Shares of Canadian Zinc were trading at 83 Canadian cents on Friday morning on the Toronto Stock Exchange, up 16 percent.

Reporting by Arnav Das Sharma in Bangalore; Editing by Sreejiraj Eluvangal

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