Chatham lodges Korella North mining lease application

Chatham Rock Phosphate has lodged its mining lease application for the Korella North mine and is aiming for first sales from the phosphate operation in the third quarter of 2024. The mining lease application (MLA) is for 10 years and covers 118.56ha within the Korella North exploration area EPM28589 (under application). Chatham Rock Phosphate president and chief executive officer Chris Castle said the lodgement and immediate acceptance of the Korella North mining lease application was like winning the trifecta. Korella tenements including Korella North. "This week we made significant progress in our three key projects that will enable Chatham to become a global organic, low-cadmium phosphate miner and trader," he said. This included the Makatea project in French Polynesia, where the company gained clarity as the new government announced the minister responsible for resources and mining, and the Chatham Rise project in New Zealand, which had significantly improved prospects of securing government support and international investor backing following the recent election, he said. "In Australia we have worked tirelessly to get our three Korella phosphate projects into operation," Mr Castle said. "While Korella Central remains mired in court action, the push to get Korella North into production as soon as possible has taken this significant step in the lodging and acceptance of its mining lease application. "We look forward to first sales from Korella North in Q3 2024. In parallel we remain committed to the establishment of a significant export mine based on Korella South exploration area (EPM 28187)." He said also a northern European fertiliser manufacturer was testing a 400kg sample of Korella phosphate. This may provide a breakthrough for Korella South low-cadmium phosphate to replace Russian product in the now cadmium-sensitive European and Scandinavian markets. Related: Chatham placement to help fast-track Korella North Korella North lies near Incitec Pivot’s Phosphate Hill operation. It has mineral resource estimate of 600,000 tonnes at 13.1 per cent phosphate in the indicated category and 2.1 million tonnes at 13 per cent in the inferred category. While the mining lease application covers about 118ha, Chatham said the mine footprint would be about 3ha. This 3ha mine footprint contained some 395,000 tonnes of the Monastery Creek Phosphate Member, with a 22m-thick phosphate seam outcropping along a length of 1.5 km, the company said. It plans low-cost open pit operations to provide direct shipping phosphate for sale to the domestic market, with export markets also showing interest. Chatham plans to undertake confirmation drilling after the end of the wet season in February/March 2024. It expects the grant of the mining lease in August 2024.

Chatham lodges Korella North mining lease application

Industry Queensland

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