Wiluna West approved by WA govt

15th March 2016 By: Esmarie Iannucci - Creamer Media Senior Deputy Editor: Australasia

PERTH (miningweekly.com) – Mineral explorer GWR Group on Tuesday told shareholders that the Western Australian Department of Mines and Petroleum had approved the mining proposal for its Wiluna West iron-ore project.

The mining proposal approval was for an iron-ore operation of up to seven-million tonnes a year over an initial ten-year mine life, and was subject to the development of a viable transport and infrastructure solution.

“The approvals received are the product of a significant amount of work by the GWR team and its contractors over a period of nearly 11 years since drilling commenced,” said GWR CEO Craig Ferrier.

“While the conditions for the development of a new iron-ore mine are challenging, the approvals now allow us to capitalise on positive movements in the iron-ore price, as well as advance discussions with potential joint venture partners or acquirers of the project.”

While GWR had no immediate plans to develop the Wiluna West iron-ore project, the company noted that the approvals positioned GWR to derive maximum value from the project through the commodity price cycle.

No other activities other than care and maintenance were planned in the near future, with expenditure exemptions under the Mining Act currently in place.

The project currently hosts a Joint Ore Reserves Committee-compliant resource of 130.3-million tonnes at an average grade of 60% iron.