- Construction has begun at Alara Resources (AUQ) joint venture Al Wash-hi Majaza Copper-Gold Project in Oman with all required permits received
- AUQ has a 51 per cent interest in the project, with Al Hadeetha Resources holding the remainder
- This month Al Hadeetha Resources began project finance drawdown with purchase orders and contracts awarded
- Now, a contractor has mobilised its team and equipment at the Al Wash-hi village site for surface levelling and digging foundation trenches
- AUQ shares closed 12.5 per cent higher at 1.8 cents
Construction is underway at Alara Resources (AUQ) joint venture Al Wash-hi Majaza Copper-Gold Project in Oman with all required permits received.
AUQ has a 51 per cent interest in the project, with Al Hadeetha Resources holding the remainder.
This month Al Hadeetha Resources began project finance drawdown with purchase orders and contracts awarded, committing a total Capex of US$17.8 million (AUD $24 million).
Now, with all the required approvals received from the local municipality, AUQ said a contractor had mobilised its team and equipment at the Al Wash-hi village site for surface levelling and digging foundation trenches.
The village has been designed to house 325 personnel from the construction, mining and plant operation crews, and contains a range of facilities including dining, prayer and recreation halls.
Moving forward, housing construction and mining crews are expected to begin by the end of 2021.
Additionally, the copper-gold mining-processing facility is reportedly on track for completion by Q3 CY22.
Alara’s Managing Director Atmavireshwar Sthapak said the company is very pleased with the progress being made.
“Construction of the accommodation village has accelerated and is on track to be completed on schedule and within budget,” Mr Sthapak said.
“We look forward to updating shareholders on the completion of the project’s accommodation village and copper-gold mining-processing facility.”
AUQ shares closed 12.5 per cent higher at 1.8 cents.