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RAPAPORT... True North Gems Inc. has mobilized equipment to inaugurate construction of the Aappaluttoq ruby and pink sapphire project located in southwestern Greenland. "This exciting announcement marks the continuation of a very successful transition year for True North," said Nicholas Houghton, the CEO of True North Gems. "It is anticipated that the construction will progress very quickly and will be a testament to the experience of our partners Leonhard Nilsen Group and all their investment in planning in anticipation of the commencement notice. It is another step in delivering upon our promise of bringing economic benefit to all stakeholders." Immediate construction objectives include transporting and installing a pre-fabricated loading dock, moving rolling stock required to commence road construction, establishing living quarters and completing infrastructure, which will enable planned production to commence in 2015.
Bent Olsvig Jensen, the managing director of True North Gems Greenland, said, "The news of True North's successful financing and the anticipated commencement of construction was well received in Greenland by all. Jens-Erik Kirkegaard, the government minister responsible for industry and mineral resources, hailed the financial news as 'a strong signal to the world and investors that mining in Greenland is certainly possible. We are pleased to say we have received a large number of applications from people who are looking forward to the upcoming employment opportunities."
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