Business
Update on Volspruit Mining Right Application
Update on Volspruit Mining Right Application.
About this update from Sylvania Platinum Ltd.
[{"type":"text","content":"\n \nRNS Number : 4148E Sylvania Platinum Limited 10 May 2013 \n \n\n \nSylvania Platinum Limited \n (\"Sylvania\" or \"the Company\")\n AIM (SLP)\n \nUpdate on Volspruit Mining Right Application\n \n \nSylvania Platinum Limited, the low cost Platinum Group Metal (\"PGM\") processor and developer, today announces an update on its +3 million ounce PGM development project at Volspruit in the Bushveld region of South Africa. \n \nOn the 29th September 2011 Sylvania advised that a Mining Right Application (MRA) for the Volspruit project had been submitted. Sylvania has been requested to supply additional information to complete the Environmental Impact Assessment (\"EIA\"). This information was planned to come from the regular flood event on the Nyl River which flows in close proximity to our proposed open pit mine. Since this flood event did not occur this year, the board has decided to simultaneously withdraw and resubmit a new MRA thus allowing the ground water specialist time to complete the study.\nThis new submission is not expected to delay the project in any way as the supply of power remains on the critical path for the project with a decision on the EIA expected within 120 days of submission of the new application.\nThere is no cost for the withdrawal and resubmission and since the new application will contain all the previous work that has already been done, the cost of this additional study and associated public meetings will be minimal. \nNigel Trevarthen, Deputy CEO, commented: \"The Company is determined to ensure the Nylsvley nature reserve, situated approximately 40 km upstream of the project area, is not impacted materially by the mine's operations and has taken this decision to allow further studies to be completed and thus the opportunity to better model the impact of the mine design on the environment. Since the impact on the overall project timeline is not affected, this action should improve the likelihood of the project being approved by the government and also demonstrates the Company's commitment to environmentally responsible mine design and operation\"\n \nBACKGROUND\n \nThe Volspruit project is situated in the Northern Limb of the Bushveld Igneous Complex adjacent to the Nyl River, approximately 40 km downstream of the Nylsvley na...