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Appeal lodged against Tasmania DSO project approval

3rd October 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Junior iron-ore developer Venture Minerals’ flagship Riley direct shipping ore (DSO) project, in Tasmania, might be facing a court battle after a third party lodged an appeal against the project’s approval.

The federal government approved the development of the Riley project in August, after the Tasmanian Environment Protection Authority gave its conditional approval in May.

Venture told shareholders on Thursday that the request for a judicial review, which was lodged with the Federal Court, did not relate to any actions taken by Venture, but rather urged a review on the legalities of the Minister of Environment’s decision process in approving the DSO project.

Venture added that the request would not affect the current production schedule or Venture’s operations.

A 2012 scoping study found that at a capital cost of less than A$7-million, the DSO project, which consists of the Livingstone and Riley deposits, could deliver a net present value of A$123-million, at a net revenue for the life-of-mine of A$170-million.

First production at Riley is slated for the second half of the year, with the mine expected to produce at a rate of one-million tonnes of DSO a year.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

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