11th Jun 2015 10:01
LONDON (Alliance News) - Sylvania Platinum Ltd Thursday said it remains optimistic that the Environmental Impact Assessment for the Volspruit development will be approved, after two South African newspapers had claimed that the application had been rejected and would need to be restarted.
The company said the claim that the Limpopo Department of Economic Development, Environment and Tourism had rejected the Environmental Impact Assessment had been rejected were made by the Beeld and the Vryburger newspapers, but the "interpretation by the newspaper journalists is incorrect".
It said the authority had in May formally requested clarification on matters related to water consumption by the project and requested that additional work on the EIA be done to include a Biodiversity and Wetland Offset Strategy to address any potential loss of flora and fauna species or potential damage to the wetland located near the northern mining pit perimeter.
"Such an Offset Strategy is accepted mitigation against the risk of potential loss of classified sensitive biodiversity in terms of Environmental legislation and is generally only done at the specific request of LEDET," Sylvania said.
"During the past week the Environmental Assessment Practitioner released a statement to Interested and Affected Parties detailing the latest correspondence received from LEDET, and explained that meetings would be held with LEDET to confirm further actions to be taken by the company to address their concerns and submit an amendment to the EIA," Sylvania said.
It has until July 19 to submit the amended Environmental Impact Assessment.
"Sylvania respects the request for clarification and additional mitigation by LEDET as this will allow the Authority to reach a defendable decision. Sylvania will be ready to submit the required clarification and a suitable Offset Strategy for consideration by LEDET prior to the due date," the company said in a statement.
"Sylvania remains optimistic that the Application will be granted as the detailed Environmental Impact Study - the culmination of some four years' effort by a considerable team of specialists - did not find any fatal flaws within the proposed project," it added.
The Volspruit project in Limpopo province covers two adjacent ore bodies that will be mined for platinum group metals and other base metals, such as copper and nickel, via two open-cast pits. At full production, Volspruit is planned to feed three 100,000 tonnes per month-capacity plants.
Sylvania Platinum shares were up 1.1% at 11.37 pence in London Thursday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Sylvania Platinum