Jun 9, 2010 - Matilda Zircon is to relinquish its exploration tenements on Cape York in Northern Queensland, in order to focus on its near term production projects in the Northern Territory and Western Australia.
The environmental sensitivity of the western Cape York region and the likelihood of a long and costly approval process has been cited for the company's decision.
The company will now focus on the Tiwi Zircon project in the Northern Territory where it commenced mining last week, and the Keysbrook leucoxene project in the South West of Western Australia where it has secured environmental approval and is aiming to commence production next year.
Peter Gazzard, technical director, said the decision to relinquish the tenements followed a recent decision by the Queensland Government to "lock up" part of a nearby bauxite project under the "Wild Rivers" legislation.
"Both of these projects are well advanced, have environmental approvals in place and together will form the basis of a solid zircon/rutile concentrate and leucoxene group," Gazzard said.
The environmental sensitivity of the western Cape York region and the likelihood of a long and costly approval process has been cited for the company's decision.
The company will now focus on the Tiwi Zircon project in the Northern Territory where it commenced mining last week, and the Keysbrook leucoxene project in the South West of Western Australia where it has secured environmental approval and is aiming to commence production next year.
Peter Gazzard, technical director, said the decision to relinquish the tenements followed a recent decision by the Queensland Government to "lock up" part of a nearby bauxite project under the "Wild Rivers" legislation.
"Both of these projects are well advanced, have environmental approvals in place and together will form the basis of a solid zircon/rutile concentrate and leucoxene group," Gazzard said.
