THE BOURSE WHISPERER: Altech Chemicals (ASX: ATC) has received Western Australia Department of Mines and Petroleum approval for the mining proposal and the associated mine closure plan for the company’s Meckering kaolin deposit.
Altech Chemicals said the approval was important for the development of the proposed Meckering kaolin mine, which will provide feedstock for Altech’s proposed Malaysian-based high purity alumina (HPA) plant.
Altech explained the approved submission allows for mining activities to commence within the 100 per cent-owned Meckering mining lease M70/1334, located approximately 140 kilometres east of Perth.
At Meckering, Altech plans to mine approximately 140,000 tonnes of kaolin once every three years with mining scheduled to take place in short two-month mining campaigns.
The resultant raw kaolin ore will be stockpiled on site, then containerised into standard shipping containers at the rate of approximately 40,000 tonnes per annum and shipped to Johor, Malaysia via the port of Fremantle.
“The company is delighted to have received mining approval for the Meckering kaolin deposit,” Altech Chemicals managing director Iggy Tan said in the company’s announcement to the Australian Securities Exchange.
“Whilst the company will not need to commence mining kaolin until 2018, the approval of the mine is an important developmental milestone that has now been ticked off.
“The next step is the works approval application for the proposed loading facility at Meckering, which is assessed by the Department of Environment Regulation.”