CZR Resources has secured Mining Licences for key deposits for the Robe Mesa iron ore project in Western Australia.
The Robe Mesa deposit sits immediately north of Rio Tinto’s Mesa F project while the P529 deposit is immediately south of Mesa F. The WA Department of Mines, Industry Regulation and Safety granted Mining Licences M08/533 (Robe Mesa Deposit) and M08/519 (P529 Deposit) for a period of 21 years.
This follows the signing of the Mining Agreement with the Robe River Kuruma Aboriginal Corporation that provides economic and social benefits to the traditional owners and consent for mining to be undertaken at the Robe Mesa iron ore project, announced late December 2022.
Granting of the Mining Licences adds to CZR’s Definitive Feasibility Study (DFS) for Robe Mesa. This is in addition to CZR’s recently announced consortium agreement with Strike Resources and CSL Australia to develop a joint export facility from the existing Port of Ashburton.
The Company has also made significant advancements in its strategy to grow mine life and production rates at Robe Mesa, with the recent Mineral Resource increase to 45.2Mt and acquisition of the FMG tenement, expanding CZR’s P529 deposit, located only 5km from Robe Mesa.
CZR Managing Director, Stefan Murphy, said the granting of the Mining Licences for Robe Mesa is a watershed moment for CZR and the outcome of several years of diligent, hard work by the Company and its key stakeholders.
“CZR has a clear strategic goal to grow the size and forecast production rate from the Robe Mesa iron ore project, to make it resilient throughout the economic cycles and a more valuable asset for CZR and its shareholders,” Mr Murphy said.
“The granting of Mining Licences covering the Robe Mesa deposit, following a collaborative agreement with the Robe River Kuruma Traditional Owners, has been a goal of CZR for many years and further de-risks our project, adding value to the Robe Mesa asset.
“Iron ore is largely driven by logistics and marketing, and CZR has shown over the past month that much of the hard work behind the scenes is beginning to pay off, with the pit-to-port value chain taking shape and bolton acquisitions secured to further enhance our project scale.”
Mining Licences M08/533 and M08/519 are held by CZR Resources through its wholly-owned subsidiary, Zanthus Resources (85 per cent interest in Robe Mesa) and its joint venture partner Zanf (15 per cent interest in Robe Mesa and a wholly owned subsidiary of Creasy Group). The Mining Licences have been granted for a term of 21 years.
CZR is now updating its mine plan and production schedule for Robe Mesa, targeting 3.5Mtpa to align with its proposed export capacity through the Port of Ashburton. Haul road and port engineering studies are also well advanced, which will be critical inputs to the DFS.
CZR will commence field activities mid-January 2023, with Resource definition drilling on the P529 deposit and E08/2137 (acquired from FMG) and water bore drilling, including test pumping to confirm adequate water supplies for mining operations at Robe Mesa.
