Nevada Sunrise says water right forfeiture formally dismissed
The State Engineer of the Nevada Division of Water Resources (NDWR) has issued an order formally dismissing the forfeiture proceedings against TSX-V-listed Nevada Sunrise’s water right in the Clayton Valley basin.
The dismissal follows a negotiated settlement agreement with NYSE-listed Albemarle.
The US major in July agreed to withdraw its motion to forfeit Nevada Sunrise’s permit 44411, but in exchange, the junior had to commit not to drill any wells in certain areas of the Clayton Valley that could impact on Albemarle's lithium brine mining operations at Silver Peak.
“After more than three years of contentious litigation, Nevada Sunrise's water rights under the permit are now in good standing and out from under the threat of forfeiture from Albemarle's allegations of non-use,” Nevada Sunrise said in a media statement.
In conjunction with the dismissal of the forfeiture proceedings, the State Engineer had issued to Nevada Sunrise a notice letter requiring the company to make full use of its water rights for mining and milling purposes within the next 12 months and file a proof of resumption of use, or apply for an extension of time requesting additional time to use the water.
Nevada Sunrise subsidiary Intor Resources in March 2016 exercised an option to earn into permit 44411, which allows for the withdrawal of 1 770 acre/feet a year of water for mining and milling, but three months later, Albemarle filed a motion of forfeiture, alleging non-use of water rights.
Following hearings at the NDWR, the State Engineer in November that year granted Albemarle’s motion and issued a ruling forfeiting the permit. Intor appealed the ruling to the court and in May last year, the parties were ordered to vacate the forfeiture ruling and to schedule an administrative hearing before the State Engineer.
A negotiated settlement between Nevada Sunrise and Albemarle was reached in July.
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