THE DRILL SERGEANT: Vimy Resources (ASX: VMY) announced the Environmental Protection Authority (EPA) has recommended approval of the company’s Mulga Rock project (MRP) in Western Australia.
Vimy said the EPA has assessed the company’s proposal and prepared an Assessment Report that has been sent to the Minister as required under the Western Australian Environmental Protection Act.
The company said the Assessment Report recommends the proposal may be implemented and specifies the conditions and procedures to which implementation should be subject as required by the EP Act.
Vimy explained the Mulga Rock project is also being assessed under an Assessment Bilateral Agreement between the Commonwealth of Australia and Western Australia made under the Environment Protection and Biodiversity Conservation, under which the Commonwealth Minister for the Environment relies upon the environmental impact assessment processes of WA in assessing actions under the EPBC Act.
This means the Assessment Report will form the basis of the Commonwealth Minister’s assessment and subsequent decision in relation to this project.
Any person that disagrees with the content of, or any recommendation in, the Assessment Report is able to lodge an appeal within 14 days of publication of the report.
Vimy said it expects there will be appeals while noting the Appeals Convenor aims to have 80 per cent of appeal reports submitted to the Minister within 60 days of receiving final responses and that such a schedule would be consistent with the Minister reaching a final decision and publishing a statement setting out the implementation decision before the end of this year.
“This is a fantastic outcome, the EPA has undertaken a very efficient and thorough assessment and concluded that our project should be implemented and we see no reason why the State and Federal Ministers would not agree with that assessment, Vimy Resources CEO and managing director Mike Young said in the company’s announcement to the Australian Securities Exchange.
“This is a project which results in no significant residual impacts to the environment.
“We set out how we would manage the project to achieve that outcome and now we have a positive recommendation with conditions that require us to do what we said we would do – and of course we will exceed those expectations.
“We can see the end of the approvals process and more importantly, offtake partners and financiers with whom we are engaged, can see it as well.
“This de-risks perceptions and is a very significant step towards achieving the conditions required for the final investment decision.
“We said back in March that we expected that this stage of the process would be completed and the report published in August – and we have delivered!”