• New World’s Mine Plan of Operations (MPO) receives ‘Determination of Adequacy’
• This paves the way for an environmental assessment
• Other key programs, including the DFS, are continuing in parallel

Special Report: New World Resources is on track to begin construction activities at the Antler asset in the second half of the year after its Mine Plan of Operations received a Determination of Adequacy by the US Bureau of Land Management.

That has put Antler on a 12-month timeline for full approval with the BLM now requiring an Environmental Assessment (EA) to be completed as part of the Federal permitting process.

The EA will evaluate the potential environmental, cultural and social impacts of proposed mining activities and will be conducted under the National Environmental Policy Act (NEPA) to ensure that the project aligns with Federal environmental standards.

It will include a comprehensive analysis of the project’s scope, including mining techniques, land disturbance, water usage and waste management plans, while also assessing potential impacts on wildlife, vegetation, cultural sites, and nearby communities.

New World Resources (ASX:NWC) anticipates Arizona state permits to be finalised throughout the course of 2025, paving the way for construction activities to kick off in the second half of this year, permitting completion in early 2026 and shipping of concentrate to start in 2027.

Most advanced ASX copper play

Antler is already the most advanced of the Aussie copper plays.

It is a brownfields site, a former producer following the closure in the 1970s due to low copper prices, and only 350km northwest of Phoenix.

A July 2024 pre-feasibility study outlined a US$298 million operation to produce 30,100 tonnes per annum of copper equivalent at C1 costs of just US12c per pound after co-product credits over 12.2 years.

The study generated a post-tax net present value of US$498 million and an internal rate of return of 30.3%.

Key programs continuing in parallel

“We couldn’t be more pleased with the progress of our permitting process to date,” NWC managing director and CEO Nick Woolrych said.

“This achievement highlights the exceptional work of New World’s local team and consultants and underscores the supportive approach of the BLM field office in Kingman, Arizona.

“Beyond permitting, we remain fully committed to industry best practices in mine design, water management, and responsible resource development at Antler,” he said.

“Our development approach prioritizes sustainable water use, environmental stewardship, and meaningful engagement with local communities and Tribal partners to ensure shared benefits.”

The permitting process is continuing in parallel with other key programs including a definitive feasibility study, financing process and local and regional exploration to further de-risk and enhance the highly robust, standalone development credentials of Antler.

This article was developed in collaboration with New World Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.