VRX Silica (ASX: VRX) Shares Soar on Environmental Approval Milestone for Arrowsmith North

Highlights 

• The EPA has accepted VRX’s Response to Submissions for its Arrowsmith North Silica Sand project.
• VRX's stock price surged over 30% in response to the upbeat news.
• VRX invited to attend the upcoming EPA Board meeting to review the proposal and the draft assessment report. 

VRX Silica Limited (ASX:VRX), a pureplay silica sand company listed on the ASX, has reached a significant milestone with its Arrowsmith North project. The Environmental Protection Authority (EPA) of Western Australia has officially accepted the Response to Submissions (RtS) for the Arrowsmith North Silica Sand project and published it on its website. This marks the commencement of the EPA’s formal assessment process for the project. 

In response to the positive development, VRX's stock price traded higher by over 30% to AU$ 0.051 in early Monday trading on 18 November 2024. 

Commenting on the milestone, VRX’s Managing Director Bruce Maluish, said: “The Response to Submissions is a vital component of the EPA assessment process and now, having been accepted and published, is a confirmation that the EPA will be completing its assessment of the Arrowsmith North Silica Sand Project. This work is the culmination of an extensive series of studies that have been undertaken for the Project, and these are included in the RtS and the Environmental Review Document that has previously been published on the EPA website.” 

VRX has been invited to attend the EPA Board’s upcoming meeting on 21 November 2024, where the Board will review the draft assessment report and discuss the Arrowsmith North project, including any remaining key issues raised in the RtS.  

The company has been working closely with the Department of Water and Environmental Regulation (DWER) to address these concerns. The ongoing consultation and the EPA’s acceptance of the RtS have reassured VRX that these issues will not prevent the EPA from completing its assessment of the project. 

The next step for the EPA would be finalising its assessment report and making a recommendation to the Minister for Environment.