Business
Sandfire Resources America Acquires Key Mine Property at the Black Butte Copper Project
WHITE SULPHUR SPRINGS, Mont., Aug. 11, 2021 (GLOBE NEWSWIRE) -- Sandfire Resources America Inc. (“Sandfire America” or the “Company”) is pleased to advise that
About this update from Sandfire Resources America Inc.
[{"type":"text","content":" WHITE SULPHUR SPRINGS, Mont., Aug. 11, 2021 (GLOBE NEWSWIRE) -- Sandfire Resources America Inc. (“Sandfire America” or the “Company”) is pleased to advise that it has taken another important step in advancing its fully permitted Black Butte Copper Project in Central Montana with the acquisition of a key property covering the proposed surface infrastructure. Tintina Montana Inc., a wholly owned subsidiary of Sandfire Resources America Inc., completed the purchase of the 534.9-acre Mine Property from Bar Z Ranch Inc. (“Bar Z”) on July 22, 2021. This property encompasses a majority of the area of surface disturbance and activity allowed in the Mine Operating Permit for the Johnny Lee Deposit, which was approved by the Montana Department of Environmental Quality (\"MT DEQ\") on August 17, 2020. Facilities include the future underground mine entrance and portal pad, mill facility, contact water reservoir, cemented tailings facility, and other features. The purchase was conducted under the arrangement outlined in the Company’s contract with the surface property owner, Bar Z. The land sale only encompasses surface rights and does not include the associated Mineral Rights, which will continue to be owned by their current owners. The Black Butte Copper Project is located wholly on private land in Meagher County, Montana. The traditional use of the land is for grazing cattle and the project has been designed to return the land to ranchland at the end of the mine life. Legal Update On July 16, 2021, District Court Judge Bidegary heard oral arguments for summary judgement from plaintiffs and defendants regarding a legal complaint filed on June 4, 2020 by the plaintiffs claiming to represent the environmental community. The suit was filed jointly against the MT DEQ and Tintina Montana Inc. Additional intervenors in the suit supporting the MT DEQ and Tintina Montana Inc, include Meagher County, Broadwater County, and the Montana Department of Justice. A decision on the case is pending and may take several months. To date, the legal challenge has not resulted in any interference with development activities and construction continues. While the Company does not believe that the legal challenge has any merit, it does have the potential to delay the development timeline. Commenting on the latest developments, Sandfire Ameri...