Date: Jul 19, 2018
Due diligence process finds that the country’s mining regulations provide comparative advantages.
Hardey Resources Ltd (ASX:HDY) believes its proposal to reopen the Nelly Vanadium Mine in San Luis Province of Argentina can be fast-tracked owing to the country’s mining laws.
The company’s ongoing due diligence process in acquiring the mine has revealed a number of regulatory and operational comparative advantages.
These include the ability to expedite the monetising of legacy stockpiles as a direct shipping ore vanadium product then, if a JORC-compliant resource is modelled, recommence mining.
Typically, establishing a mining platform from a prospective area in most jurisdictions takes up to five years, numerous studies and material capex.
However, under Argentina’s laws, the process to reactivate a mining licence is relatively straightforward and fast.
“A comparative advantage”
Executive chairman Terence Clee said: “One of the attractive and unique features with Nelly Vanadium Mine is the potential to fast-track the commencement of mining operations and cashflow.
“This is a material comparative advantage over building up a resource from inception, which can take many years.
