Coda Minerals Kicks Off Environmental Approval Process for Elizabeth Creek Project
COD (COD) Share Update August 2024 Sunday 11th
Coda Minerals Initiates Environmental Approval Process for Elizabeth Creek Project
Coda Minerals Limited (ASX: COD) has officially commenced the environmental approval process for its flagship Elizabeth Creek Copper-Cobalt Project in South Australia by submitting a Preliminary Impact Assessment (PIA) to the South Australian Department of Energy and Mining.
Instant Summary:
- Coda Minerals submits Preliminary Impact Assessment for Elizabeth Creek Copper-Cobalt Project.
- The project is in the advanced Scoping Study stage with over 1 million tonnes of contained copper-equivalent.
- The PIA submission marks the beginning of the environmental scoping process, a crucial step towards obtaining a Mining Lease.
Introduction to the Project
Coda Minerals Limited (ASX: COD) has taken a significant step forward in the development of its Elizabeth Creek Copper-Cobalt Project by submitting a Preliminary Impact Assessment (PIA) to the South Australian Department of Energy and Mining (SA DEM). This submission formally initiates the environmental approval process for the project, which is located in South Australia's renowned Olympic Copper Province.
Importance of the PIA Submission
The PIA submission is a critical milestone in the project's lifecycle. It marks the beginning of the environmental scoping process, which will determine the necessary environmental studies and data collection required before a Mining Lease can be granted. This step is essential for ensuring that the project complies with environmental regulations and standards.
Project Details and Resources
The Elizabeth Creek Copper-Cobalt Project is an advanced Scoping Study stage project with over 1 million tonnes of contained copper-equivalent in JORC Compliant Resources. The project is located in a remote part of South Australia but benefits from being in an area with a substantial history of mining activities. This location provides Coda Minerals with access to existing baseline studies and data collected by previous miners, potentially reducing the overall cost and complexity of the approval process.
CEO's Perspective
Coda Minerals CEO Chris Stevens emphasized the advantages of engaging early with key stakeholders and understanding the project's environmental and social impact. 'We benefit from being located in an exceptional mining jurisdiction in South Australia with clear approvals processes and low sovereign risk. This is an important formal step on the road to securing approvals for the Elizabeth Creek Copper-Cobalt Project,' said Stevens.
About the Scoping Process
The scoping process, as defined by the SA DEM, is a new, non-mandatory procedure designed to streamline the approvals process. It replaces informal pre-lodgement consultations and aims to identify environmental and social characteristics that may influence the operation. This early identification helps proponents prepare for their tenement application, which includes an environmental impact assessment (EIA).
- Avoids duplicated efforts and ensures operations are not delayed by the need for variations and re-work.
- Supports early stakeholder engagement and transparency with the community.
- Streamlines the tenement application process.
- Provides increased certainty about the time, expenditure, and level of information required for the EIA.
- Reduces the risk of additional works and related schedule or expenditure impacts during the mining application process.
- Early integration of the regulator.
Next Steps
The submission of the PIA begins a review and consultation process between Coda and various South Australian Government departments. This process is expected to take several weeks and will result in various drafts before the completion and publication of a final Scoping Report. Coda anticipates a relatively streamlined process due to the project's remote location and the low sensitivity of the area.
About Coda Minerals
Coda Minerals Limited is focused on the discovery and development of minerals essential for the global energy transformation through electrification and renewable energy technologies. The Elizabeth Creek Copper-Cobalt Project is Coda's flagship asset, located in South Australia's most productive copper belt. The project includes three known 'Zambian-style' copper-cobalt deposits, collectively hosting over 1 million tonnes of contained copper equivalent.
Coda's dual strategy for success at Elizabeth Creek involves advancing technical and economic studies for its copper-cobalt projects while simultaneously conducting exploration to further define and extend known resources. Additionally, Coda is undertaking substantial geophysical assessments at the Emmie Deeps prospect to understand the geological model defined through drilling.
The initiation of the environmental approval process is a positive development for Coda Minerals, as it brings the Elizabeth Creek Copper-Cobalt Project closer to production. This step is likely to boost investor confidence in the company's ability to navigate regulatory requirements and advance the project. The access to existing baseline studies and data could also reduce costs and expedite the approval process, potentially enhancing the project's economic viability.
Investor Reaction:
Analysts are likely to view the PIA submission as a significant milestone that de-risks the project. The early engagement with stakeholders and the streamlined approval process are expected to be well-received by investors. However, the ultimate impact on the stock price will depend on the successful completion of the environmental scoping process and subsequent approvals.
Conclusion:
Investors should keep a close eye on the progress of the environmental approval process for the Elizabeth Creek Copper-Cobalt Project. The successful completion of this process will be a crucial step towards production and could significantly enhance the project's value. Coda Minerals' strategic approach and early engagement with stakeholders position the company well for future success.