- The terms for a Native Title Mining Agreement for the Kalkaroo Copper-Gold Project finalised with the Adnyamathanha people.
- Achievement of this key milestone paves the way for grant of a Mining Lease.
The compensation offer is positioned in a fair and balanced approach where Havilah will have protection in a low metals price environment, while the claimants would see the benefit in a higher metals prices environment, sharing in the upside. This approach supports Havilah's ability to raise development finance for the project in the future. The agreement also focuses on the very important non-financial criteria such as employment, training, and business development opportunities for the claimants over the life of the mine.
This is an important milestone for the Kalkaroo project because the execution and finalisation of the NTMA paves the way for the regulators to finalise the Mining Lease Application.
Commenting on this milestone achievement, Havilah Managing Director, Dr Chris Giles said: "We are very pleased to have reached in principle agreement with the Adnyamathanha people on the terms for a Kalkaroo Native Title Mining Agreement.
"This is the result of many years of negotiation that have been conducted in a spirit of goodwill and respect.
"Finalisation of the Native Title Mining Agreement and grant of a Mining Lease over the Kalkaroo copper-gold deposit is very timely given our co-operation with Wanbao Mining Limited to complete the Kalkaroo pre-feasibility study by the end of the year" he said.
About the Kalkaroo Project
Kalkaroo is one of the largest undeveloped copper-gold projects in Australia, containing JORC Measured, Indicated and Inferred resources of 232 million tonnes of copper and gold for over 1.1 million tonnes of copper and 3.3 million ounces of gold (refer ASX announcement 29 March 2017). The project is capable of producing high quality coppergold concentrates plus copper metal (as native copper) and gold dore. To develop the Kalkaroo project at an optimum mining and throughput rate requires a major capital investment and considerable mining and processing expertise.
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About Havilah Resources Ltd
Havilah Resources Ltd (ASX:HAV) is a debt free South Australian gold producer having recently financed and developed its first gold mine at Portia in north-eastern South Australia. It plans to follow on with three copper-gold-cobalt mining developments at North Portia, Kalkaroo and Mutooroo, which are underpinned by a JORC resources mineral inventory of over 1.4 million tonnes of copper, 3.6 million ounces of gold, and 18,000 tonnes of cobalt.
Havilah Resources Ltd