Vital gets environmental nod for Watershed
PERTH (miningweekly.com) – The Queensland state government has given tungsten developer Vital Metals environmental approval to develop its Watershed project.
Vital Metals said on Thursday that the issue of an environmental approval from the Department of Environment and Heritage Protection was the final step required before the Department of Natural Resources and Mines was able to consider the grant of a mining lease.
The company stated that it was now working to de-risk the technical aspects of the project, while the necessary project approvals were being secured to allow the Watershed project to advance through to construction and operation.
In July this year, Vital Metals announced that it was studying the economic viability of tripling production at the Watershed project, after preliminary findings from the feasibility study suggested that it could be feasible.
The extended feasibility study would examine increasing production from the currently proposed one-million tonnes a year to three-million tonnes a year. Early indications show that the capacity could be achieved for a capital expenditure of some A$150-million.
The Watershed project currently has a mineral resource of some 49.32-million tons, grading 0.14% tungsten. The project is wholly owned by Vital, but Japan Oil, Gas and Metals National Corporation was earning a 30% stake in the project, and was also contracted to take 30% of the project’s offtake.
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