Stellar Resources Gets Tin-mining Lease for Saint Dizier

Stellar Resources Gets Tin-mining Lease for Saint Dizier

The lease will allow the company to extract tin and other metals from the deposit for an initial six-year period.

Tin explorer and developer Stellar Resources (ASX:SRZ) has landed a mining lease for its Saint Dizier tin deposit in western Tasmania, the company announced on Wednesday (January 30).

The lease will allow the company to extract tin and other metals from the deposit for an initial six-year period.

“Granting of [the mining lease] shows strong support from the Tasmanian government for Stellar’s tin development strategy. The company is now well positioned with all of its JORC compliant tin mineral resources under long-term tenure,” Managing Director Peter Blight said.

Saint Dizier also increases the range of development options for the company’s Heemskirk tin project, which has a JORC-compliant mineral resource of 6.4 million tonnes at 1.13 percent tin.

The deposit will now provide the potential for development of a low-cost open pit with ore processed through the company’s proposed processing facility at Zeehan or through a third-party facility.

An updated scoping study on Saint Dizier shows the capital investment is estimated to be $3.8 million, with net present value reaching $10.4 million, an internal rate of return of 166 percent and a payback period of 8 months. The project can be brought into production within 3 months of receiving approvals.

“The scoping study shows attractive returns on investment from the St Dizier open pit mine and development of St Dizier may be an important part of a ‘fast start’ option which the company is continuing to review,” Blight added.

Looking ahead, Stellar is working on collecting enough data to reduce processing risk and prepare a definitive feasibility study. In addition, the company plans to submit a development proposal and environmental management plan to the West Coast Council in support of a mining permit.

On Wednesday, shares of Stellar Resources remained flat at AU$0.01.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

Hastings Technology Metals Ltd Measured and Indicated Mineral Resource Tonnes Up by 54%

Perth, Australia (ABN Newswire) – Australia’s next rare earths producer, Hastings Technology Metals Ltd (ASX:HAS) (FRA:5AM), is pleased to announce a material increase in Mineral Resource Estimate at its Yangibana Rare Earths Project (Yangibana) in Western Australia’s Gascoyne region.

Highlights

– Measured and Indicated Mineral Resource tonnes increased by 54% to 16.3Mt for Yangibana deposits drilled during 2020.

Keep reading... Show less

ASI certifies Rio Tinto’s ISAL smelter for responsible production

Rio Tinto’s ISAL smelter in Iceland has been certified by the Aluminium Stewardship Initiative (ASI) for meeting the highest internationally recognised standards for responsible aluminium production.

The certification continues Rio Tinto’s leadership of the industry on responsible aluminium production from mine to metal, and means customers can be assured aluminium produced at ISAL meets independent environmental, social and governance standards.

Keep reading... Show less

Rio Tinto updates details of tailings facilities

Rio Tinto today released updated information in relation to its global tailings facilities to align with the requirements of the Global Industry Standard for Tailings Management (GISTM) released in August 2020, an initiative co-convened by the International Council on Mining and Metals, United Nations Environment Programme and the Principles for Responsible Investment.

The latest disclosure at http://www.riotinto.com/tailings builds on previously disclosed information on each of Rio Tinto’s global tailings facilities released in June 2019 and the publication of Rio Tinto’s Group Procedure and updated Standard for ‘Management of tailings and water storage facilities’ in February 2019. The changes to existing data are in line with guidance contained in GISTM including updating information previously disclosed.

Keep reading... Show less

Hastings Technology Metals Ltd Quarterly Activities Report

Perth, Australia (ABN Newswire) – Australia’s next rare earths producer, Hastings Technology Metals Ltd (ASX:HAS) (FRA:5AM) is pleased to report on exploration and development activities for the three-month period to 31st March 2021. Most of the activity focused on the Company’s Yangibana Rare Earths Project (“Yangibana”) in the Gascoyne region of Western Australia.

Highlights

– Hastings raised $100.7 million (before costs) through a two-tranche equity placement priced at $0.19 per share, with funds to be used to advance development of the Yangibana Rare Earths Project.

Keep reading... Show less

Argyle Diamond Mine Closure: What’s Next for the Sector in Australia?

Click here to read part one of this article, which covers the closure of the Argyle diamond mine.

When the mining equipment permanently shut down at Western Australia's Argyle mine in November 2020, the country's diamond sector entered a transitional period.

As the world's fourth largest diamond-producing asset shuttered, domestic output of the gems instantly declined by as much as 90 percent.

Keep reading... Show less

Top News

Related News