Australian Rare Earths (ASX:AR3) received ministerial consent from the government of South Australia for the right to acquire a 100% interest in uranium rights and the transfer of the exploration license at an area of around 1,000 square kilometers, according to a Wednesday Australian bourse filing.
The regulatory approvals are for the firm's farm-in agreement with private minerals explorer Sheer Gold, the filing said.
The mining firm has the potential to fully acquire the sedimentary uranium rights in the area by spending up to AU$200,000 in exploration expenditures by September, the filing added.
It also received approval for its exploration program for environment protection and rehabilitation application for the license, per the filing.
It said it received all regulatory approvals to begin drilling at its Overland uranium project in South Australia in February.
The firm's shares fell 3% in recent trading on Wednesday.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。