- CZR Resources (CZR) is a step closer to developing its primary Robe Mesa iron ore project in WA after being granted two new mining licenses
- The Department of Mines, Industry Regulation and Safety (DMIRS) granted the licenses to CZR’s subsidiary and its joint venture partner Zanf for 21 years
- The two licenses are for the Mesa deposit, which sits to the north of Rio Tinto’s (RIO) Mesa F project, and the P529 deposit which sits to the south
- The company is now updating its mine plan and production schedule, targeting 3.5 million tonnes per annum
- CZR shares were up 6.8 per cent, trading at 23.5 cents at 4:15 pm AEDT
CZR Resources (CZR) is one step closer to developing its primary Robe Mesa iron ore project in Western Australia after being granted two new mining licenses.
The Department of Mines, Industry Regulation and Safety (DMIRS) granted the licenses to CZR’s subsidiary, Zanthus Resources, which holds an 85 per cent interest in the project, along with its Joint venture partner, Zanf.
The two licenses granted were M08/533 (Robe Mesa deposit) which sits to the north of Rio Tinto’s (RIO) Mesa F project, and M08/519 (P529 deposit) which sits to the south of the project, with the licenses valid for 21 years.
The licensing comes after CZR signed a mining agreement with the Robe River Kuruma Aboriginal corporation, which granted consent to mine at the location.
The company said receiving these licenses adds to its definitive feasibility study for Robe Mesa, and is in addition to its recently announced consortium agreement to develop a joint export facility from the port of Ashburton.
CZR Managing Director, Stefan Murphy described the new license grants as a “watershed moment” for the company.
“CZR has a clear strategic goal to grow the size and forecast production rate from the Robe Mesa iron ore project, to make it resilient throughout the economic cycles and a more valuable asset for CZR and its shareholders,” Mr Murphy said.
“The granting of mining licences covering the Robe Mesa deposit, following a collaborative agreement with the Robe River Kuruma Traditional Owners, has been a goal of CZR for many years and further de-risks our project, adding value to the Robe Mesa asset.”
The company is now updating its mine plan and production schedule, targeting 3.5 million tonnes per annum.
CZR shares were up 6.8 per cent, trading at 23.5 cents at 4:15 pm AEDT