After announcing a maiden Ore Reserve estimate for the Project's Washihi deposit in December last year, the Company has been working to convert a section of the 39km2 Washihi exploration licence area, to a mining licence so that commercial mining activities may commence.
Last week the Company submitted the environmental permit fee and a performance bank guarantee as requested by Oman's Ministry of Environment and Climate Affairs ('MECA') (see Note below). MECA has now issued a "no objection" letter with standard conditions for the Project.
MECA's "no objection" is seen as a major development for the Project and the Company can now follow up with the Public Authority of Mining on the expected time frame for issuing of the mining licence.
International Mining and Resources Conference
Earlier this week, the CEO of the Saudi Arabian Mining Company (Ma'aden) addressed IMARC in Melbourne on mining opportunities in the Saudi mining sector. A large delegation of Saudi government officials also attended the conference. Austrade and the Australian Saudi Business Council facilitated roundtable and one on one meetings with members of the delegation. Alara's CEO met with senior delegates regarding the Company's mining projects in Saudi Arabia and Oman. Ma'aden is among the ten largest mining companies in world and is looking to expand further both within the Kingdom and abroad.
1 Refer Alara's ASX Announcement dated 27 October 2017.
About Alara Resources Limited
Alara Resources Limited (ASX:AUQ) is an Australian minerals exploration company with a portfolio of projects in Saudi Arabia and Oman. Alara has completed a Definitive Feasibility Study on the Khnaiguiyah Zinc-Copper Project in Saudi Arabia, an Advanced Scoping Study on the Daris and Washihi, Mullaq and Al Ajal exploration licences in Oman and a Feasibility Study for the Al Hadeetha Copper Gold Project, Washihi ore reserve. The Company is transitioning to establish itself as a base and precious metals mine development and production company. For more information, please visit: www.alararesources.com
Link: Received No Objection Letter from the Ministry of Environment and Climate Affairs for Al Hadeetha Copper Gold Project in Oman
Alara Resources Limited (ASX:AUQ) Off-Take Agreement for the Supply of Copper Concentrate from Al Hadeetha Project