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- Aurelia Metals (AMI) has received work approval from the New South Wales Natural Resources Access Regulator
- This approval will see Aurelia pump groundwater from the historic Great Cobar Mine to the Peak Mines
- So far, water has been sourced from regulated rivers through a high-security water allocation
- However, groundwater pumping will allow the Peak Mines to be fully self-sufficient
- There are now just two outstanding administrative approvals which are expected to be completed before the year’s end
- Aurelia Metals is down 2.35 per cent, with shares trading for 41.5 cents each
Aurelia Metals (AMI) has received work approval from the New South Wales Natural Resources Access Regulator.
This approval will see Aurelia pump groundwater from the historic Great Cobar Mine to the Peak Mines, which are approximately 10 kilometres away.
In October 2019, conditional approval was received from the Cobar Shire Council to construct and operate a water pipeline that would source groundwater from the historic Great Cobar Copper Mine to supply to Peak’s existing operations.
Receiving the work approval means applications for the final two outstanding administrative approvals can be initiated.
These are expected within the next few weeks and, by then, pumping groundwater can commence.
Until earlier this year, all water was sourced from the Cobar Council through a high-security water allocation from the Macquarie and Cudgegong Regulated Rivers.
Aurelia is committed to self-sufficiency and pumping groundwater from the Great Cobar Mine is the largest remaining contributor to being self-sufficient. It is also expected to replace the current high-security water usage on site.
The Peak Mines have already been able to reduce its reliance on water sourced from the Council by nearly 50 per cent.
Aurelia acquired the Peak Gold Mines in 2018 which was considered highly strategic in cementing the company’s position in the historically prospective Cobar region of New South Wales.
Production at the Peak Gold Mines began in 1992 and, since then, has been a medium-sized underground mining operation. The company intends to unlock the mines’ longer-term potential.
Aurelia Metals is down 2.35 per cent, with shares trading for 41.5 cents each at market close.
