Impact Minerals (ASX:IPT) has lodged a mining lease application and associated miscellaneous licence for the Lake Hope high Purity Alumina Project in Western Australia.
The approvals process, coupled with the logistics and estimated costs of mining and transporting the Lake Hope mud to the process plant, form one of the four key parts of the Prefeasibility Study (PFS), which is in progress.
Impact Minerals, which has a market capitalisation of $42.83 million, says this is a crucial step in advancing the project towards production as it defines the work required to obtain the statutory approvals needed for the grant of the mining lease.
Managing Director Dr Mike Jones says the application covers West Lake and sufficient material for at least the first 15 years of the proposed production.
“It also offers a more direct haulage route to the Norseman-Hyden road than existing tracks, potentially saving millions of dollars in road construction costs,” Jones says.
“The application also clearly sets a path towards gaining the statutory approvals required for the grant of the mining lease. In particular, this will require engaging in a well-defined negotiation process with the Ngadju Aboriginal people, the traditional custodians of the land around Lake Hope and further seasonal flora and fauna surveys in and around the proposed mine infrastructure.
“We will progress on both these critical paths in the next quarter. All this work at what will be the Lake Hope Mine is one piece of the large jigsaw puzzle that comprises the PFS and we continue to make progress with the other key pieces: the process plant, testwork, product offtake, and marketing.”
The company has received a negotiation protocol, which will set the framework for negotiations to achieve a land access agreement and a cultural heritage management plan for the mine. An initial meeting with the Prescribed Body Corporate will be arranged, following the review.
Meanwhile, mining studies are also underway to provide detailed mining schedules, proposed equipment, site logistics and costs of mining and transport of ore to Kwinana.
Further, H&S Resource Consultants are interpreting drill assay data to help upgrade a portion of the previously defined indicated resource to a measured resource.
Impact Minerals says this will allow a maiden proven reserve to be declared with further mining and economic studies.
Impact Minerals is a mineral explorer focused on its tenement holding over 5,500km2 in Western Australia. The company’s flagship Lake Hope Project is set to revolutionise high-purity alumina production with cost efficient mining.
Write to Aaliyah Rogan at Mining.com.au
Images: Impact Minerals
