Unity Mining hopes to extend the life of a planned gold mine in the headwaters of the Eurobodalla’s water supply by six years – but has agreed to a takeover deal it hopes will be secured by April.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
The company’s amended application for the Dargues Reef Gold Project, in the Deua catchment, is displayed until next Friday, December 18.
However on Monday, Unity announced to the Australian Stock Exchange a deal for Diversified Minerals Pty Ltd to acquire 100 per cent of its issued shares – subject to regulatory and shareholder approval.
Unity is no longer seeking Department of Planning and Environment approval to use cyanide at the Majors Creek site, or to change the design of the approved tailings storage facility. However the company has sought to extend the approved completion date of the project from August 31, 2018, to December 31, 2024.
It also sought to increase the approved maximum ore extraction from 1.2 to 1.6 million tonnes, construct and use a storage area for waste rock storage, construct and use a vehicle crossing over Spring Creek and amend the project boundary.
A departmental spokeswoman said all submissions made in July and August this year would be considered.
“The department is giving the local community another opportunity to share their views,” she said. “The company altered its application based on feedback received. It’s easy to participate online (www.majorprojects.planning.nsw.gov.au) and we encourage everyone.”
Deua Valley resident Tom Wells encouraged comment.
“A narrow window has been offered to object or consent to the modifications,” Mr Wells said.
Diversified Minerals Pty Ltd is the largest shareholder in Unity, with 13.69 per cent of shares, and hopes to boost its stake to 100 per cent by mid-April, 2016.
