- Shree Minerals has lodged a supplement to the DPEMP regarding an RFI for the DSO.
- SHH has been working to re-permit the NBR to restart the production of DSO resources at NBR.
- SHH has identified four additional targets in the project area through airborne magnetic surveys, which are yet to be drill tested.
Shree Minerals Limited (ASX:SHH) was issued a request for additional information (RFI) by EPA in late June 2022 regarding Waste Rock and Mine Closure concerning its Direct Shipping Ore (DSO) project at the Nelson Bay River Iron Project (NBR).
In response to this RFI, SHH has now concluded and lodged a supplement to the Development Proposal & Environment Management Plan (DPEMP).
RFI concerning DSO
SHH was also issued an RFI regarding Flora and Fauna by EPA in late March 2022, for which a supplement was lodged in early June 2022. EPA had issued both RFIs as part of their assessment process, and SHH anticipates advice for the assessment/approval decision process concerning EPBC approvals. Moreover, upon considering the Commonwealth’s decision on DA 18/059 by the EPA Board, an RFI related to mine water discharge and the Giant Freshwater Crayfish shall follow.
Source: SHH Announcement 03/08/2022
SHH now looks forward to achieving a position for advancing a formal decision to restart the mine subsequent to securing the permit.
SHH’s stance amid improving iron prices
In light of the recent improvement in iron ore prices, SHH has been seeking to re-permit the NBR Project with a strategy to restart the production of DSO resources from the current open pit. JORC-compliant global iron Mineral Resource of NBR stands at 11.3Mt, comprising a goethitic-hematite Mineral Resource of 1.4Mt and a Magnetite Mineral Resource of 7.8Mt.
Moreover, the Company has been working towards the adoption of the framework issued by EPA and has concluded the required technical studies to develop the DPEMP.
Proposed development NBR DSO project (Source: SHH Announcement 03/08/2022)
SHH expects iron ore prices to remain at healthy levels amid a limited near-term supply response. In response to healthy iron ore prices, SHH has noted further enhancement in premiums for materials with lower impurities as Chinese authorities continue to emphasise curbing carbon emissions.
Notably, the mineralisation at NBR remains open along strike and down dip and extends beyond 300m in depth in some parts. SHH has identified four additional targets from airborne magnetic surveys in the project area. These holes are yet to be drill tested.
SHH stock was noted at AU$0.008 on 03 August 2022.