New World Resources (ASX:NWC) Receives Key Permit Application Approval for Antler Copper Project

Key Points:

• New World Resources' Antler Copper Project in Arizona advances after receiving approval for its Air Quality Control Permit application.
• The permit, a critical step for construction and operation, is now under a 120-day technical review, including a 30-day public comment period.
• The Antler Project has implemented several eco-friendly measures to minimize emissions and dust, streamlining the approval process.
• The project has a 12+ year mine plan with strong financial returns, and additional exploration could extend the mine’s life.

New World Resources Ltd (ASX:NWC), a mining company focused on developing its flagship Antler Copper Project in northern Arizona, has announced a significant regulatory milestone. The Arizona Department of Environmental Quality (ADEQ) has accepted the company’s application for an Air Quality Control Class II Minor Emissions Permit for the Antler Project. This decision moves the project closer to obtaining the required authorizations for construction.

The ADEQ, Arizona's primary environmental agency, evaluates mining operations to ensure compliance with state air quality, water quality, and waste management standards. With the application deemed complete, the project will now enter a 120-day technical review phase, which includes a 30-day public comment period. This permit is crucial for New World, as it is the only construction-related permit required under Arizona’s regulations, exempting mining from local zoning restrictions.

The application for this permit outlines how New World plans to mitigate environmental impact during the development of the Antler Project. The company has committed to several environmentally friendly practices aimed at minimizing emissions and dust during construction and operation. These measures include:

• Reducing diesel consumption by opting for cleaner energy sources for both mobile and permanent equipment.
• Installing enclosed dust collectors at material transfer points to limit fugitive dust emissions.
• Utilizing concurrent reclamation processes to minimize wind-borne dust from waste rock and tailings storage.
• Incorporating water sprayers and dust suppressants along roadways to further reduce dust.

These proactive steps will likely help streamline the technical review process by minimizing the project's projected environmental impact. New World’s commitment to adopting best practices ensures that the project remains aligned with industry standards for environmental stewardship.

Antler Copper Project Overview

Located in a sparsely populated area in northern Arizona, the Antler Copper Project is about 200 kilometers southeast of Las Vegas and 350 kilometers northwest of Phoenix. The project benefits from the well-established infrastructure in the area, as well as proximity to the mining hub of Kingman, Arizona, a town of approximately 35,000 residents. Kingman serves as the operational base for New World, which is located just 40 kilometers north of the Antler site.

The Antler deposit, which remains open at depth and along strike, presents significant exploration potential. New World currently has two drilling rigs in operation, targeting various high-priority zones to discover additional mineral deposits. The company is hopeful that further discoveries will extend the life of the mine or potentially increase its production capacity, both of which could boost the project’s overall financial performance.

Development Timeline and Next Steps

New World Resources has already established a robust 12-year mine plan for the Antler Copper Project, which is expected to yield strong financial returns. The company is now focused on securing the necessary permits to begin construction. The application process began in January 2024, when New World submitted its Federal Mine Plan of Operations. The Federal Plan is expected to take the longest to approve, while other state-level permits, such as the Air Quality Control Permit, are anticipated to follow a shorter timeline.

New World is optimistic that all necessary permits will be in place by 2025, allowing it to proceed with full-scale construction of the Antler Project. The company is committed to advancing the mine while maintaining rigorous environmental and operational standards.