THE BOURSE WHISPERER: Metallica Minerals (ASX: MLM) has received Federal Government approval for the company’s Urquhart bauxite project in Queensland in accordance with the Environment Protection and Biodiversity Conservation Act 1999.
Metallica Minerals said the federal government has appropriately conditioned the development of the project and those conditions are in line with the company’s plans and expectations.
Metallica is now awaiting to receive approval from the Queensland state government for the mining lease and Environmental Authority whilst progressing a separate approval for the haul road linking the Urquhart bauxite project to established port infrastructure at Hey Point.
“This is an important milestone in the development of the Urquhart bauxite project and clearly demonstrates that the environmental plan developed for the project is sustainable and meets best practice standards as determined by federal authorities,” Metallica Minerals CEO Simon Slesarewich said in the company’s announcement to the Australian Securities Exchange.
“We look forward to receiving Queensland state government approvals and transitioning Urquhart into production.”