- PNX Metals (PNX) receives environmental approval for its wholly-owned Fountain Head project in the Northern Territory
- The approval completes the environmental impact statement (EIS) process for the project, which is itself an important component of PNX’s overall project approval
- The company is now preparing to submit a mining management plan (MMP) to the Department of Industry, Tourism & Trade (DITT) for assessment
- Approval of the MMP by the DITT is the last step in the approvals process for the project
- PNX shares are down 12.5 per cent to 0.35 cents at midday AEDT
PNX Metals (PNX) has been granted environmental approval for its wholly-owned Fountain Head gold project in the Northern Territory.
The approval was granted under the NT Environment Protection Act 2019 by Lauren Moss, Northern Territory’s Minister for Environment, Climate Change and Water Security.
PNX Managing Director James Fox said the approval was a result of the company’s ongoing efforts at the project.
“The grant of environmental approval for the Fountain Head gold project is the culmination of a significant body of work, and a milestone event in PNX’s Pine Creek integrated development strategy,” Mr Fox said.
PNX said the approval marked the completion of the environmental impact statement (EIS) process for the project, which was itself an important component of PNX’s overall project approval
The EIS contained a “comprehensive risk assessment”, including studies on groundwater and surface water, biodiversity, and Aboriginal and cultural heritage, amongst a number of other areas.
This means PNX can now focus on submitting a mining management plan (MMP) to the Department of Industry, Tourism and Trade (DITT) for assessment.
The MMP is expected to be submitted during March 2023.
PNX said that a successful review of the MMP would mark the last step in the approvals process at Fountain Head.
“The project team is now focused on completing and submitting mine management plans, and progressing approvals for the Hayes Creek zinc, gold and silver project,” Mr Fox commented.
Mr Fox added that the company would continue to work with the Northern Territory Regulators to ensure the “best outcomes” for all stakeholders of the company.
PNX shares were down 12.5 per cent to 0.35 cents at midday AEDT.