Verdant Minerals Gets Environmental Approval for Phosphate Project

Verdant Minerals Gets Environmental Approval for Phosphate Project

Verdant Minerals continues to make progress at its Ammaroo phosphate project, and has now locked down approval from the Northern Territory Environment Protection Authority.

Verdant Minerals (ASX:VRM) has received approval from the Northern Territory Environment Protection Authority (NTEPA) for the environmental impact assessment for its Ammaroo project.

With the assessment report now in hand, the company will move forward at the phosphate asset by focusing on finalizing the native title mining agreement, acquiring grants for mineral leases and later securing funding for the project’s development.

“This is a major milestone for Verdant Minerals and the Ammaroo phosphate project. The completion of the assessment process by the NTEPA provides Verdant with the regulatory baseline required to move the Ammaroo project towards final mining authorizations and the attainment of statutory licenses,” Verdant Minerals Managing Director Chris Tziolis said in a statement.

He continued, “[t]his marks the end of the most rigorous part of the approval and permitting process. We will also now move on with the implementation and financing stage of the project, progressing toward a final investment decision.”

In June, Ammaroo received approval from Australia’s federal government under the Environmental Protection and Biodiversity Conservation Act 1999. With the newest approval from the NTEPA, the authority had this to say about Verdant’s project:

… subject to the implementation of all recommendations and the commitments and safeguards listed in the proponent’s environmental impact statement, the proposal can be managed in a manner that is likely to meet the NTEPA’s objectives and avoid significant or unacceptable environmental impacts and risk.

The Ammaroo phosphate project is located 220 kilometers southeast of Tennant Creek in Australia’s Northern Territory. The project has an initial 20-year mine life, with an ore reserve of 32.5 million tonnes at 18.2-percent phosphorus pentoxide for the first 9.5 years of production.

Its feasibility study, released in May, shows Ammaroo’s stage 1 total cost would come out to AU$368 milllion with a 15-month construction timeframe. Meanwhile, stage 2 is estimated to cost AU$200 million and would increase production to 2 million tonnes per year after the fifth year of production.

A final investment decision is planned for the end of Q4 2018, with construction set to begin in early 2019. Verdant was up 11.76 percent on the ASX at AU$0.019 as of Friday (October 19) at 11:25 a.m. PST.

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

Securities Disclosure: I, Olivia Da Silva, 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.


– 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 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.


– 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