THE BOURSE WHISPERER: Hillgrove Resources (ASX: HGO) has had a Program for Environment Protection and Rehabilitation (PEPR), Life of Mine plan at the company’s Kanmantoo copper mine in South Australia approved by the Department of State Development.
Hillgrove said the approval enables the Kanmantoo copper mine to increase production by 75 per cent in processed ore over the original PEPR.
The approval also extends the Kanmantoo mine life out to 2019, based on current mine Reserves, and allows access to additional copper Resources located within the Mining Lease.
Source: Company announcement
The company explained the new mining lease required for expansion of the Nugent pit was recently granted, adding that the new PEPR approval represents the final part of the approval process.
“Finalising this process has provided a welcome degree of certainty for the current Kanmantoo mine programs and targets,” Hillgrove Resources CEO Greg Hall said in the company’s announcement to the Australian Securities Exchange.
“It confirms the next stage in the planned mine life of the project, continuing employment for the local region, ongoing cashflow and potential for return of value to shareholders.
“Kanmantoo Copper is now commencing a review of exploration potential on its mining lease and broader regional exploration tenement as part of possible future life extensions.
“Some of this will be based on conversion of Resources and exploration target ranges into Reserves, and some will be reviewing the potential for new mineralised zones.
“Our recent acquisition of the exploration and mining option over the historical Kitticoola private mine is a step in this program.”