News and Announcements
Altech Secures Settlement for Mining Lease at Meckering
- Published May 06, 2016 3:27PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
6th May 2016, ASX Announcement
Highlights:
- Settlement with freehold landowners covering mining lease application M70/1334
- Landowners objection to grant of mining lease lifted
- Company proceeding to mining lease grant
- Company to submit Mining Propsal (MP) and Mine Closure Plan (MCP)
- 18 month option to purchase 94 ha of land covering mining lease
- Guarantees mining accessibility
Altech Chemicals Limited (Altech/the Company) (ASX: ATC) is pleased to announce that it has executed a settlement and option to purchase agreement for the freehold land that completely encompasses its mining lease application M70/1334 at Meckering, Western Australia. As reported previously, the landowners had objected to the application for grant of the mining lease and the objection was before the Warden’s Court (WA). Concurrently, the Company continued to negotiate a settlement with the landowners and a final settlement has now been reached.
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