PERTH (miningweekly.com) – ASX-listed Centaurus Metals was advancing its Candonga direct shipping ore (DSO) project, in Brazil, with the Department of Mines approving the final exploration report for the tenement.
The approval supported the quality of the exploration work and development work undertaken by Centaurus and paved the way for the company to lodge the full mining licence application for the Candonga project.
Production at Candonga would start in the second quarter of next year, at a rate of 300 000 t/y under a trial mining licence, which was lodged in April this year. Centaurus told shareholders that the licensing process was well advanced, and final approval of the trial mining licence was expected in the first quarter of 2015.
With the approval of the final exploration report, Centaurus now had up to 12 months to deliver the economic feasibility study for the project, which was required for the full mining licence application.
Centaurus told shareholders that the document was well advanced based on feasibility work already completed, and would be lodged with the Department of Mines during December.
The company had also lodged a combined preliminary installation environmental licence application for the Candonga project in May this year, which was also awaiting approval.
It was hoped that the relevant approvals would be secured before the second quarter of next year.