Archer hopes rise as Leigh Creek folds
PERTH (miningweekly.com) – ASX-listed junior Archer Exploration is hopeful that the closure of the Leigh Creek coal mine, in South Australia, will pave the way for its own magnesia aspirations in the region.
Unlisted energy provider Alinta Energy was expected to close the Leigh Creek mine on November 16.
Archer chairperson Greg English told shareholders at the company’s annual general meeting that Alinta’s decision to close the Leigh Creek coalfield meant that the existing railway line and associated infrastructure was potentially available for Archer to develop its own Leigh Creek magnesia project, which was immediately north-west of the coalfield.
“This has greatly improved the logistics of our magnesia project. We have commenced discussions with the South Australian government and third parties regarding the development of the Leigh Creek magnesia project through this unexpected window of opportunity.”
English noted that Archer has, to date, had a positive response and assistance from all levels of the South Australian government.
“It is certainly a turnaround of our intentions, as prior to Alinta’s closure announcement about the coalfield, we had announced that the Leigh Creek magnesia project was for sale.
“Instead, we are now considering several low-risk and low-cost development options for this project, but will remain receptive to offers that may emerge for this world-class asset.”
The project is estimated to host an indicated and inferred resource of 453-million tonnes grading 41.4% magnesium oxide. The Mt Hutton deposit, which has a reserve estimate of some seven-million tonnes, was also located just 20 km from the Leigh Creek to Port Augusta rail line, which English said could also support a large magnesia operation.
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