Proactive Investors - Strategic Minerals (LON:SMLP) has applied for a new Program for Environmental Protection and Rehabilitation (PEPR) relating to planned mining by subsidiary Leigh Creek (LCCM) at Paltridge North in South Australia.
The application contains additional information required by South Australian authorities about the treatment of transitional ore expected to be mined as the planned pit reaches greater depth, said the junior.
It is not expected that approval of this PEPR will be as protracted as was the case with a previous and now approved environmental permit, SML added.
Permission is being sought as part of LCCM's expected 2023 re-opening of operations at Mountain of Light at Leigh Creek, subject to funding.
Negotiations on funding are also at an advanced stage with a party who has extensively accessed the company's data room and visited the LCCM site though no agreement has been entered into, said the statement.
John Peters, managing director, said: "Lodgement of the PEPR for treatment of transitional ores at Paltridge North represents the next step in the expected re-opening of operations at Mountain of Light in 2023, subject to funding.
“It is expected that this PEPR's approval will be achieved in a time frame that is within the planned mining critical path.
"While no binding arrangements have been entered into yet, our dealings with a party during the December quarter are very encouraging and the company hopes to be able to convert this into a binding arrangement early in 2023.”
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