Rum Jungle Resources Submits Notice of Intent for the Ammaroo Phosphate Project
Perth, April 23, 2014 AEST (ABN Newswire) - Rum Jungle Resources Ltd (
ASX:RUM) is pleased to advise that it has submitted to the Minister for Mines and Energy, the Hon Willem Westra Van Holthe, a Notice of Intent (NOI) for its Ammaroo Phosphate Project, located approximately 200km southeast of Tennant Creek in the Northern Territory.
The NOI provides formal notification to the Northern Territory Government and other key stakeholders of RUM's intention to move towards the development of the Ammaroo Phosphate Project, subject to the successful completion of the ongoing pre-feasibility study, a potential Bankable Feasibility study and the securing of project financing in the future. The submission of the NOI triggers the environmental impact assessment process.
The NOI provides an overview of the proposed activities and potential development options, the environmental and social aspects associated with the project and proposed management strategies to be adopted in the development and operation of project. It is expected that the NOI will be reviewed by the Department of Mines and Energy, prior to forwarding the Environmental Protection Authority (EPA) for further assessment and the issuance of environmental impact guidelines that may lead to the requirement to submit an Environmental Impact Statement prior to approval in the future.
Rum Jungle Resources commenced a pre-feasibility study on the Ammaroo Phosphate project late last year and is targeting a study completion date around the middle of 2014. Other key activities that remain ongoing include the negotiation of native title agreements, which is a precursor to the granting of a minerals lease, commercial discussions with transport providers and engagement with the broader global phosphates industry with a view of securing future joint venture partnerships and/or off take agreements to underpin future development of the project.
About Verdant Minerals Ltd
Verdant Minerals Ltd's (ASX:VRM) strategic intent is to create shareholder value through the discovery, development and operation of fertiliser and industrial mineral projects, located in close proximity to existing transport infrastructure, with a primary focus on the Northern Territory of Australia.
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