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Strategic Minerals PLC on Thursday said that its subsidiary, Leigh Creek Copper Mine Pty Ltd, has lodged an application for a new Program for Environmental Protection & Rehabilitation with South Australia’s Department of Energy & Mining.
Strategic Minerals is a London-based miner. The Leigh Creek copper mine, acquired in 2018, is the company’s primary Australian asset. The mine uses a heap leaching approach to produce copper cement and has executed an offtake arrangement for its output.
The lodgement of the PEPR is related to planned mining at Paltridge North, within Leigh Creek, and constitutes part of the expected 2023 re-opening of operations at Mountain of Light - also on the site - subject to funding.
Strategic Minerals said that the new PEPR contained much of the same information as the previous application, but in greater depth.
Accordingly, it does not expect approval of this PEPR to be as protracted as was the case previously.
The company added that negotiations on planned funding of the restart of production are at an advanced stage with an unnamed additional party. However, no binding arrangements have been entered into thus far.
‘Lodgement of the PEPR for treatment of transitional ores at Paltridge North represents the next step in the expected re-opening of operations at Mountain of Light in 2023, subject to funding. It is expected that this PEPR’s approval will be achieved in a time frame that is within the planned mining critical path,’ said Managing Director John Peters.
‘While no binding arrangements have been entered into yet, our dealings with a party during the December quarter are very encouraging and the Company hopes to be able to convert this into a binding arrangement early in 2023. Although the time taken to get to this point has been frustrating, the board now considers it highly likely, subject to finance, that operations will recommence in 2023 and we are encouraged by the rebound in the copper price.’
By Holly Beveridge; Alliance News reporter
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