The company plans to bring the mine back into production. Pic: via Getty Images.
Anax celebrates environmental all-clear for Whim Creek copper-zinc project
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Anax Metals has cause to celebrate today with the Department of Water and Environmental Regulation (DWER) lifting the Environmental Protection Notice (EPN) at the Whim Creek copper-zinc project in WA.
Back in 2019, Tropical Cyclone Veronica passed near the Whim Creek Project delivering significant rainfall and resulting in extensive flooding at the site, causing the closed-circuit stormwater capture system to overflow into the environment.
Consequentially, DWER issued an EPN requiring production of copper cathode to be suspended and dictated several actions be taken to prevent further pollution of the site.
After Anax Metals (ASX:ANX) and Develop Global (ASX:DVP) formed a JV partnership over the project in 2020, numerous infrastructure upgrades were completed under Anax’s management to address the requirements of the EPN as well as enable future use of the infrastructure in operations.
And now with the EPN removed, the company can kick on with its goal to bring the mine back into production.
Eyeing a final investment decision
The lifting of the EPN major milestone is testament to the extensive site upgrades and repairs, says MD Geoff Laing.
“The removal of the EPN is a fantastic outcome for the company and all stakeholders,” he said.
“The works undertaken by the Anax team have produced measurable environmental improvements and it is very rewarding to have this recognised.
“Achieving this major milestone further de-risks the project at a time when Anax is focussed on and engaged in financing discussions.”
Final stage of permitting in sight
A stellar definitive feasibility study released last month lay the groundwork to bring the mine back into production at 10,000-12,000t of copper equivalent metal a year.
And with the project containing high grade copper and zinc, with lead, silver and gold by-products, Whim Creek stands out in an environment where grade decline is becoming a massive problem for established producers.
Final regulatory approvals to allow for construction of a concentrator, as proposed in the DFS, are well-advanced and expected to be received later this quarter.
“Anax now looks forward to completing the final stage of permitting in preparation for the mine development,” Laing said.
The company will review the potential to recommence heap leaching at the project, either before, or at the commencement of mining of sulphide ore at Mons Cupri.
This article was developed in collaboration with Anax Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
