On January 3, 2019, metals miner, Galena Mining Ltd (ASX: G1A) has announced that they have received the acceptance of Works Approval applications for all mining, processing, and tailings storage by Western Australian Department of Water and Environmental Regulation (DWER) for its wholly-owned Abra Base Metals Project.
According to Galena’s management, this recent works approval is going to the last major approval for Abra base project and its undertaking will put the project on-track so that they can complete the permit within the second quarter of the 2019 calendar year.
Status of Major Permits: The company has received the notification for construction of the proposed processing plant and tailings storage facilities from Department of Water and Environmental Regulation and in that notification, it is mentioned that they have accepted the work approval. This application is in addition to a Department of Water and Environmental Regulation works approval application for mine construction which was approved in September 2018. In October 2018, Western Australian Department of Mines, Industry Regulation and Safety has also approved the Mining proposal, Mine closure plan, and environmental management system applications.
As previously mentioned, Abra base project does not require any kind of EPA approval due to previously completed base line environmental studies. Now the company is anticipating finalizing permitting for the project within the second quarter of 2019 calendar year.
Tenements and Leases: The Abra deposit is entirely based on a granted Mining Lease, and it is also surrounded by a contiguous Exploration Licence. From the last three months, Galena has been granted several General purpose and Miscellaneous Leases so that they can support future construction and operation of the project. Beside the Mining Lease to its north, the general-purpose lease has also been granted on immediate basis, and it also includes the tenements for the proposed processing plant and tailings storage facilities. For an upgraded airstrip and other ancillary infrastructure, the company has been granted three more miscellaneous leases.
Minor Permits: Construction in Abra requires several additional minor permits from various authorities like DWER, DMIRS, local government, and for the airstrip they require permits from the Civil Aviation Safety Authority. Several minor permits have already been granted; those are native vegetation clearing, waste water treatment plant, and construction of production water bores. Within coming weeks other minor approval applications are expected to be lodged such that they will be concluded within the timeframe.
Abra does not require any specific approvals for outbound transport, shipping or export of its high-grade lead-silver concentrate product.
Stock performance: In the last six months, the price of the company has shown a negative return of 8.82 percent as on 3 January 2019 and 18.42 percent down over the past One month. On January 4, 2019, the company’s shares ended the session on the flat note as the stock price has settled at A$0.155 per share. The market capitalization of the company stood at circa $52.24 Million.
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