- Write by:
-
Friday, December 21, 2018 - 11:17:15 AM
-
1909 Visit
-
Print
Mining News Pro - After five years of negotiations, Havilah Resources has signed a Native Title Mining Agreement for its Kalkaroo copper-cobalt-gold project, northeast of Adelaide in South Australia.
According to Mining News Pro - Kalkaroo is believed to be the largest undeveloped open pit copper-gold deposit in Australia on a copper equivalent ore reserve basis. The signing of the new deal increases Havilah’s chances of being granted a mining lease over the project area by the regional department for energy and minerals.
“The importance of the execution of this agreement cannot be overstated and represents a massive leap forward in the implementation of Havilah’s Copper Strategy – Enhanced by Cobalt, as it should now result in the grant of the Kalkaroo mining lease,” the company’s recently appointed chairman, Mark Stewart, said in a media statement.
The agreement was executed between the Ngadjuri Adnyamathanha Wilyakali Native Title Aboriginal Corporation (NAWNTAC) and Havilah. NAWNTAC is a corporate entity that jointly represents the interests of the Adnyamathanha, Ngadjuri and Wilyakali people.
According to the Dulwich-based miner, the indigenous group accepted the concept of an EBITDA or earnings before interest, tax, depreciation, and amortization, which is a profit-based compensation payment rather than an off-the-top revenue-based royalty payment.
The mechanism, Havilah communique reads, assists the company in times of low profits and allows NAWNTAC to share fully in times of high profitability of any future mining operations. It also considers employment, training, and business development opportunities for the native title holders over the life of the mine.
Kalkaroo is expected to be operative for at least 14 years. Production is forecasted to average 4,000 tonnes of copper, 100,000 oz. of gold and 1,000 tonnes of cobalt per year.
Short Link:
https://www.miningnews.ir/En/News/317403
Peru’s dented mining mojo, hit by years of political turmoil in the Andean country, is being buoyed by strong copper ...
Anglo American CEO Duncan Wanblad is meeting on Friday South African mines minister Gwede Mantashe for the first time ...
As BHP Group considers its next move, there’s one big question facing the mining world’s bankers, analysts and ...
Around $7 billion of infrastructure investments in the Democratic Republic of Congo by Chinese companies in a revised ...
Harmony Gold said on Thursday an employee working on planned rail maintenance had died at its Mponeng mine in South ...
Adani Enterprises Ltd., which posted a 38% fall in quarterly profit, said India’s markets regulator has queried it about ...
China’s leading metals companies, including its state iron ore buyer, are considering their next moves following BHP ...
BHP Group (ASX: BHP) has deployed a senior team including its chief executive officer to South Africa as the world’s ...
Emerging North American gold producer Contango ORE is boosting its landhold in Alaska with the acquisition of Canada’s ...
No comments have been posted yet ...