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Anax Metals Ltd (ASX:ANX) and Artemis Resources Ltd (ASX:ARV) have formalized a partnership that aims to advance the development of a copper production hub in Western Australia's Pilbara region. This agreement is centered around the treatment of copper deposits from Artemis' Carlow Castle project, which holds an inferred mineral resource estimate of approximately 64,000 tonnes of copper, at Anax’s Whim Creek processing facility.
The Memorandum of Understanding (MOU) between the two companies outlines how Artemis’ assets will be integrated into Anax’s established operations at Whim Creek. The Carlow Castle deposit, located 80 kilometers from Whim Creek, is one of the potential contributors to the hub, alongside other ore sources like Develop Global Ltd’s (ASX:DVP) Sulphur Springs project and GreenTech Metals Ltd's (ASX:GRE) Whundo project.
Anax has a significant stake in the Whim Creek Project, holding an 80% ownership, with Develop Global Ltd owning the remaining 20%. The project is advancing with plans for a new 400,000-tonne-per-annum concentrator, as well as a refurbished heap leach facility designed to process oxide, transitional, and supergene ores.
Beyond copper, the collaboration also offers Artemis the chance to explore gold mineralization within Anax’s project tenure. This is expected to further bolster the resource potential of the area, enhancing the overall capabilities of the production hub.
The strategic location of the Carlow Castle deposit, combined with Anax’s infrastructure at Whim Creek, provides a solid foundation for future copper production. The proximity of these assets, along with other satellite ore sources, positions the Whim Creek hub as a key player in the region's resource development.
According to Anax Managing Director Geoff Laing, this agreement is a significant step forward for both companies. He emphasized the potential for copper and gold production through the Whim Creek hub and the opportunity for expanded gold exploration initiatives. The Pilbara region's rich copper and gold deposits, coupled with the expertise of both teams, are expected to deliver strong outcomes through this partnership.
The collaboration between Anax Metals and Artemis Resources represents a strategic approach to resource development, focusing on the efficient processing of copper ore and the exploration of new gold opportunities. The integration of key projects and assets under this agreement could have a substantial impact on copper and gold production in the region, while also opening up further exploration potential for both companies.
As the Whim Creek hub continues to progress, it is set to become a central point for copper production in Western Australia, with both Anax and Artemis poised to capitalize on the region’s resource potential.
