Sept. 20 (ITRI) -- ASX-listed Venture Minerals Limited announced the submission of a Mining Lease Application for the Company’s flagship Mt Lindsay Tin/Tungsten Project in northwest Tasmania. The MLA was submitted to the Registrar of Mines, Mineral Resources Tasmania on 15 September. The MLA follows the completion of a successful pre-feasibility study in March.
Venture Minerals Managing Director Hamish Halliday commented, “This is a major achievement for the Company and is a culmination of several years of exploration success and detailed mining studies. Submitting the MLA brings Venture ever closer to its goal of becoming a significant tin and tungsten producer”. A bankable feasibility study on the project is due to be completed in the first half of 2012.
There has recently been some local political opposition to the mine on environmental grounds, as part of the mine site is within the Tarkine wilderness area. However the Tasmanian state government is backing the project. Energy and Resources Minister Bryan Green told the Sunday Tasmanian newspaper that the state government desperately wanted to see lucrative projects such as the multi-million-dollar Mt Lindsay tin mine reach fruition.
Venture Minerals says the Mt Lindsay mine could generate up to A$250 million annually, more than the local dairy, beef and wine industries combined. Construction of the mine and infrastructure would create 1,000 jobs and up to 200 people would be employed at Mt Lindsay if the mine reached full production. The mine could start up as early as 2013, with annual tin in-concentrate production initially in the order of 2,500 tpy.