KGL Resources’ Mining Management Plan for the Jervois copper project received approval from the Australian state of Northern Territory. The approval provides essential clearance for the project, said the company’s Chairman Denis Wood.
The feasibility study for the mine is underway following positive and pre-feasibility study report showed high-grade deposits, which could support strong initial mining operation for around 7.5 years. With the start of drilling operations in 2021, the company is confident of improved quality and size of the Jervois resource, said Woods in a company release on Thursday.
KGL has begun project financing discussion along with plans to market the mine’s concentrate. The Jervois resource is well-placed to enter the world copper market with high-grade deposits of 9.4mt @ 2.41pc Cu reserve when copper grades and production are on a declining trend at major copper mines. Demand for copper is robust amid increasing emphasis on green energy and electric vehicles as well as from traditional sectors such as power transmission, communication and consumer goods.