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Greatland Gold: Agreements to facilitate mining lease application at Havieron

Published by , Editorial Assistant
Global Mining Review,

Greatland Gold plc, a precious and base metals exploration and development company, has announced that various agreements have been executed in order to facilitate a mining lease application at Havieron. The mining lease application is expected to be lodged within the next couple of months.

These agreements are another milestone as Newcrest Mining continues to progress its commitments at Greatland’s 100% owned Havieron project, at which Newcrest and Greatland currently have a AUS$65 million farm-in agreement.

The following are brief summaries of the agreements. For further details of the terms of the agreements as well as all further details of parties to the agreements, please see the press release, of which there is an excerpt at the bottom of this email as well as a full copy attached.

Tenement management and re-transfer agreements between Greatland and Newcrest

Greatland will temporarily transfer 40% legal interest in the registered title to the exploration permit E45/4701 (in which Havieron resides) to Newcrest. This will correspond with Newcrest’s 40% beneficial interest in the 12 block area within E45/4701 which constitutes the Havieron joint venture area. (N.B. There will be no changes to any beneficial interests throughout the process).

Following this transfer, Greatland and Newcrest will then apply for a mining lease with respect to the Havieron project.

Following the grant of the mining lease, Newcrest will retransfer the 40% interest in the registered title to the areas of E45/4701 that are unaffected by the mining lease back to Greatland, returning Greatland’s 100% interest in the registered title to those areas within E45/4701.

Indigenous Land Use Agreement

Newcrest is party to an Indigenous Land Use Agreement with the Prescribed Body Corporate for the Martu People of the Central Western Desert region in Western Australia.

The agreement governs Newcrest’s current operations at Telfer and its activities within a 60 km radius around Telfer, which includes its exploration activities at Havieron, as Telfer is located 45 km west of Havieron.

The Indigenous Land Use Agreement provides a comprehensive framework in regards to any future development activities at Havieron, including mine construction and mine operation.

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Australian mining news