Final permitting allows on-site production of concentrates with the potential for an expanded production profile. Pic via Getty Images
Anax jumps final regulatory approval for Whim Creek copper development
Mining
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With the final regulatory approvals received, Anax can now set forth on its ambition of making Whim Creek a first mover base metals producer in the Pilbara region.
Today’s permitting milestone builds on Anax’s recent momentum pertaining to the lithium and gold exploration potential around Whim Creek with the company eagerly anticipating from rock chip sampling of a large region of pegmatites at Whim Maar, north of Whim Creek.
The approved Stage 2 Mining Proposal allows mining to take place at Whim Creek, as well as the processing of ore from the Mons Cupri and Whim Creek pits through a Conventional Flotation Processing Plant, where separate copper, lead, and zinc concentrates will be produced.
A definitive feasibility study (DFS) at Whim Creek was released in April and outlined a financially robust base metals operation with a production life of 8 years. The project’s modest $71m capital cost highlights Whim Creek’s potential to establish itself as a Pilbara based production hub in the medium term.
The completion of project permitting will also pave the way for Anax Metals’ (ASX:ANX) refurbishment of the existing Heap Leach Facility, the incorporation of ore sorters into the existing crushing infrastructure and the construction of a 120-man accommodation village.
While the Stage 2 proposal represents the final major regulatory approval for the Whim Creek site, environmental studies to support regulatory approvals for both Evelyn and Salt Creek are continuing, with further environmental studies planned for the second half of 2023.
Financing and project expansion next focus
“We are proud to have delivered on key milestones for development of the Whim Creek asset and will continue to focus on financing, project expansion and regional consolidation,” Anax managing director Geoff Laing says.
“Completion of permitting for development and operations is a very significant step in de-risking our business and adding value.”
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.
