Published On: June 10th, 2023
Figure 1: VRX Silica Sand
VRX Silica Limited (ASX: VRX) (VRX or the Company) announces a significant achievement in its Arrowsmith North Silica Sand Project. The Department of Water and Environmental Regulation (DWER) has approved the publication of the Environmental Review Document (ERD) and the commencement of a four-week Public Environmental Review (PER) period. The PER milestone represents a significant step forward, highlighting the project’s progress and VRX Silica’s commitment to fulfilling environmental responsibilities with transparency and diligence.
The public environmental review process will start on June 19th, 2023. VRX is obligated to address all received comments. Following the PER and response procedure, the Environmental Protection Authority of Western Australia (EPA) will prepare an assessment report containing recommendations for the Western Australian Environment Minister’s review and consideration regarding the approval of the Proposal.
VRX Silica’s MD Bruce Maluish said:
“We are delighted that the environmental approvals process has moved to this next important stage. This is a significant milestone for the process.
“VRX has proposed a unique method for rehabilitation of the mined area that provides the best possible outcome for regeneration of native vegetation.
“The ERD seeks approval for 30 years of mining. The development area has the potential to underpin a project lasting up to 60 years (subject to further approvals), underscoring the enormous economic contribution that could flow to the Irwin Shire in particular and Western Australia more broadly.
“VRX has engaged fully and openly with regulators at every stage of the approvals process and appreciates the thoroughness of the process. We also thank shareholders for their patience as we have worked on securing the key approvals for Arrowsmith North.”
Figure 2: VRX Silica MD Bruce Maluish
Mr Bruce Maluish, the Managing Director at VRX Silica, brings a wealth of experience and expertise to the mining industry with over 40 years of involvement. He holds a bachelor’s degree in Applied Science in Surveying from the Western Australian Institute of Technology and a solid educational background.
Before his role at VRX Silica, Mr Maluish held vital positions such as Managing Director and General Manager in various esteemed organisations, including the Monarch Group of Companies, Abelle, Matilda Minerals, Hill 50, and Forsyth Mining. Throughout his career, he has successfully managed diverse responsibilities ranging from setting up and marketing IPOs, overseeing exploration to full production, to identifying, developing, and expanding projects.
With his extensive knowledge and experience in resource sectors such as gold, nickel, and mineral sand, Bruce Maluish exhibits exceptional leadership and management skills at VRX Silica.
Milestones in the Arrowsmith North Silica Sand Project’s Approvals Process
VRX Silica has previously obtained confirmation from the Commonwealth Department of Climate Change, Energy, the Environment, and Water for an accredited assessment.
Anticipating the requirements of the environmental regulation authorities, VRX Silica conducted extensive environmental studies on its silica sand projects since 2017. These studies have expanded over multiple seasons, reflecting the company’s dedication to meeting regulatory standards.
Arrowsmith North Silica Sand Project was referred to the EPA for assessment under the Environmental Protection Act 1986 (WA) Act. Following a review, the EPA determined the project should undergo assessment, setting the level as a Public Environmental Review. VRX Silica prepared an Environmental Scoping Document (ESD), which the EPA approved in March 2022. This milestone marked the project’s progress.
VRX Silica Limited also introduced its unique Vegetation Direct Transfer (VDT) rehabilitation methodology as a significant feature of its Proposal for the Arrowsmith North Silica Sand Project site restoration.
Throughout the approval process, VRX Silica actively addressed information requests from DWER. The final ERD was accepted on June 8th, 2023, marking a significant milestone in the approvals process.
Moving Forward
With the completion of the four-week PER period, the Department of Water and Environmental Regulation will collect and review public submissions. VRX Silica will then diligently respond to these submissions.
Subsequently, the Environmental Protection Authority will compile an assessment report containing recommendations for the Western Australian Environment Minister’s decision on the Proposal’s approval. A Ministerial Statement will be issued upon successful approval, signifying a crucial milestone. This stage validates VRX’s innovative Vegetation Direct Transfer (VDT), restoring unique Kwongan Heath and Banksia Woodland habitats in the mining project area.
Investor Outlook
- VRX Silica has achieved significant milestones in the approvals process for its Arrowsmith North Silica Sand Project, reinforcing VRX Silica’s commitment to responsible and transparent development
- VRX Silica’s share price is AUD 0.145 per share, which jumped 31.818% in a single trading session on June 9th, 2023
- VRX stock’s 52-week range movement is AUD 0.093 – AUD 0.190 per share
- The Company’s market capitalisation stands at AUD 61.64 million as of June 9th, 2023
- VRX Silica has issued 560.40 million shares on the issue with unlisted options of 41.3 million as of June 9th, 2023
About VRX Silica
VRX Silica is a leading pure-play silica sand company listed on the ASX. With a highly experienced board and management team at the helm, VRX Silica is focused on advancing its portfolio of four Western Australian silica sand projects, including the Arrowsmith North Silica Sand Project and the Arrowsmith Central Silica Sand Project, located near Eneabba, south of Geraldton, the Muchea Silica Sand Project, situated north of Perth and the Boyatup Silica Sand Project, 100 km east of Esperance.
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