PERTH (miningweekly.com) – The Northern Territory’s Environment Protection Authority has approved ASX-listed Verdant Minerals’ environmental impact assessment (EIA) for its Ammaroo phosphate project.
MD Chris Tziolis said on Friday that the approval of the EIA was a major milestone for the company, providing Verdant with the regulatory baseline required to move Ammaroo towards a final mining authorisation, and the attainment of a statutory licence.
“This marks the end of the most rigorous part of the approval and permitting process. We will also now move on with the implementation and financing stage of the project, progressing towards a final investment decision.”
The project has already received federal approval under the Environmental Protection and Biodiveristy Conservation Act.
A feasibility study considered a Stage 1 development to produce one-million tonnes a year of phosphate rock concentrate, which would be replicated during year five, taking production to two-million tonnes a year of rock concentrate from year six until the end of the project’s 20-year mine life.
The Stage 1 development is expected to require a capital investment of A$368-million, while the Stage 2 development will require a further A$200-million investment.