Verdant Minerals Ltd (ASX:VRM) is continuing to progress the environmental impact assessment process for its Ammaroo Phosphate Project in the Northern Territory.
The company had submitted a supplement to its Draft Environmental Impact Statement (Draft EIS) for the project to the Northern Territory Environmental Protection Authority (NT EPA) on July 31, 2018 for final assessment.
The statutory period for this final assessment is 35 days.
However, the NT EPA has advised the company that it is unable to meet its statutory timeframe and that it expects that the final assessment report and recommendations to the relevant Northern Territory ministers will be completed and made public around mid-October 2018.
This will represent the completion of the environmental impact assessment process and provide the basis for the attainment of the required regulatory licences as the project moves toward a final investment decision.
READ: Verdant Minerals receives federal government environmental approval for Ammaroo Phosphate Project
The finalisation of a Native Title Mining Agreement is a pre-cursor to the grant of the Ammaroo Mineral Leases.
Verdant and its legal advisors have been negotiating this agreement with the Central Land Council (CLC), as representatives of the relevant Native Title Holders.
After a community meeting in May 2018 with the Native Title Holders and subsequent discussions with the CLC, a final draft of the terms and compensation package is nearing completion.
The final step in the process is another community meeting to attain the final sign-off from the Native Title Holders, anticipated to occur in late October 2018.
READ: Verdant Minerals feasibility study values phosphate project at $344 million
A program of confirmatory and optimisation test work was flagged in the Ammaroo Project Feasibility Study announcement of May 17, 2018.
Initial samples have been collected and the test work is underway in Adelaide.
The objective of this test work is to confirm the phosphorus pentoxide (P2O5) recoveries attained in earlier test work to underpin final process plant design.
Moreover, the test work seeks to identify improvements, particularly in reagent usage and reductions in water treatment which, if achievable, could significantly reduce operating costs and increase the project’s potential value.