Pilbara iron ore developer Aurox Resources has secured Environmental Ministerial Approval from the Western Australian (WA) Government for its 100% owned Balla Balla iron ore Project.
The Project is based on a 6 Mtpa magnetite mine, growing to a 10 Mtpa operation within five years from commissioning.
The Project is expected to achieve first production in early 2012.
Aurox Managing Director Charles Schaus said, “This is a pivotal milestone for the company and its shareholders; one that ensures the Balla Balla Project will be developed as soon as the next stage of financing is secured.”
“Importantly, the environmental green light is the crucial approval financiers now look for when considering the commitment of funds to projects like Balla Balla, as they can be assured their investment can be put to work immediately.”
Representatives from Aurox arrived in Beijing on 27 April to commence discussions with potential investment groups and existing off-take partners.