PERTH (miningweekly.com) – The Paroo Station lead mine is one step closer to restart after Canadian owner LeadFX received a seven-year extension for access to the Port of Fremantle to export lead concentrate.
The Canadian firm told shareholders this week that securing port access was a critical step in the preparation to restart the Paroo Station mine, in Western Australia.
The mine was placed on care and maintenance in January last year, amid difficult market conditions.
Meanwhile, LeadFX has also received a $1-million unsecured, interest-free loan from Sentient Global Resource Fund to help meet working capital needs.
The funds, which are repayable by the end of June 2017, will enable the Paroo Station mine to remain in a restart-ready state, prior to a decision being made on the restart of the mine during the coming months.