A world-class phosphate project in the Northern territory of Australia has moved one step closer to operation, as it receives a significant environmental approval.
Verdant Minerals announced this week that the Northern Territory Environment Protection Authority (NETPA) has approved the Environmental Impact Assessment for its 100%-owned Ammaroo Phosphate Project.
With the receipt of the approval, Verdant can now focus on finalising the native title mining agreement and subsequently obtaining grants for mineral leases ahead of securing funding for the development of the project.
“This is a major milestone for Verdant Minerals and the Ammaroo Phosphate Project. The completion of the assessment process by the NTEPA provides Verdant with the regulatory baseline required to move the Ammaroo Project towards final mining authorisations and the attainment of statutory licences,” said Chris Tziolis, Managing Director, Verdant Minerals.
“This marks the end of the most rigorous part of the approval and permitting process. We will also now move on with the implementation and financing stage of the project, progressing toward a final investment decision.”
The Ammaroo Phosphate Project is located 220km southeast of Tennant Creek. The project area contains the billion tonne 40km long Ammaroo Phosphate JORC Resource,
Verdant is looking to produce around 1 million tonnes per annum of phosphate rock concentrate, followed by a subsequent expansion to 2 million tonnes after year five. Verdant has developed a mine plan for 20 years of mining utilising less than 10% of the known resource.