Avanco awarded licence for Antas copper project
PERTH (miningweekly.com) – Copper developer Avanco Resources has been granted a mining licence for Stage 1 of its Antas copper project, in Brazil.
MD Tony Polglase said on Thursday that the mining licence provided a clear pathway towards construction, and allowed Avanco to move more aggressively in that direction.
The licence would allow the company to establish an openpit operation, which would run until the reserves were exhausted, and included new reserves identified within the 7 200 ha tenement area.
Avanco was currently hoping to mine about 12 000 t/y of copper and 7 000 oz/y of gold under the Stage 1 development at Antas, with first production targeted for early 2015.
The company was fully funded into production.
Polglase said on Thursday that the mining licence for Stage 1 provided the company with confidence that the regulatory success could be repeated, and would be the catalyst in triggering a resumption of drilling for the Stage 2 development at the Pedra Branca deposit, as well as at the surrounding regional targets.
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