- Andromeda Metals’ (ADN) Program for Environment Protection and Rehabilitation (PEPR) for its Great White project has been approved by the SA government
- The South Australian Department for Energy and Mining has signed off on the program, enabling Andromeda to process up to 300,000 tonnes of ore per year
- This will result in the production of up to 150,000 tonnes per year of halloysite-kaolin products from the project
- Andromeda will now need to pay a bond of up to $3.7 million and $665,000 into the Native Vegetation Fund before it can commence any operations
- ADN shares are up 17.07 per cent and trading at 4.8 cents at 1:29 pm AEDT
Shares in Andromeda Metals (ADN) spiked on Thursday after the company’s Program for Environment Protection and Rehabilitation (PEPR) for its Great White project was approved by the South Australian government.
The South Australian Department for Energy and Mining (DEM) has signed off on the program, allowing Andromeda to process up to 300,000 tonnes of ore per year and enabling the production of up to 15,000 tonnes per year of halloysite-kaolin products from the project.
The PEPR is the first stage of the DEM’s two-stage regulatory process.
The PEPR includes environmental management plans for the Great White project and details how ADN plans to comply with mining lease conditions.
Andromeda will now need to pay a bond of up to $3.7 million and $665,000 into the Native Vegetation Fund before it can commence any operations
“We are very excited to have received approval of the PEPR, as it brings Andromeda closer to becoming a globally significant producer of halloysite-kaolin products,” Andromeda Managing Director James Marsh said.
“With this important regulatory milestone now achieved, Andromeda is poised to progress towards construction as we advance funding discussions which will enable a final investment decision.”
The company said site preparations for stage 1A of construction were due to commence over the coming months.
ADN received its mine license on December 17, 2021, and said it now expected to receive secondary minor approvals, such as consent for EPA works. These secondary approvals are not required prior to the commencement of construction work.
ADN shares were up 17.07 per cent and trading at 4.8 cents at 1:29 pm AEDT.