Elementos announces licensing activities for Oropesa Tin Project

Company News

by Peter Milios

Elementos (ASX:ELT) has announced the restart of Definitive Feasibility Study (DFS) and licensing activities for the Oropesa Tin Project after reaching an agreement with the Andalucian Government (Administration) regarding modifications to the project layout. These modifications aim to improve environmental and community outcomes.

The agreement reaffirms the Administration's support for the Oropesa project, which remains one of seven key mining projects in the Government’s Project Accelerator Unit. Primary license submissions will be resubmitted in accordance with the new layout modifications.

Revised project dates are as follows:
  1. Resubmission of Primary License Documentation: Q3-CY2024
  2. Completion of Definitive Feasibility Study: Q4-CY2024
  3. Targeted receipt of primary (environment/mining) licenses: Q4-CY2025
  4. Targeted first production: Q4-CY2027
Elementos aims to complete its DFS for the Oropesa Tin Project by the end of the year. The company plans to initiate the re-submission of Primary License documentation, with an estimated completion timeline of approximately four months. With the Administration committed to re-assessing all license submissions on an expedited basis, Elementos anticipates approvals within approximately 15-18 months.

Managing Director Joe David expressed confidence in the project's future, stating, "The Oropesa Project is one of the world’s largest undeveloped, open-cut tin deposits with special strategic significance to the European Union." He also acknowledged the collaborative efforts between Elementos and the Administration in finding a responsible path forward that enhances the project's Environmental, Social, and Governance (ESG) credentials.

David emphasized the mutual commitment to sustainable and responsible projects, as well as the shared goal of stimulating economic growth in the north-western Cordoba region, particularly the Guadiato Valley where Oropesa is located.

Key modifications to the project's layout include:

  1. Relocation of main external waste dumps to southern and western edges of the open-pit to minimize impact on flora and wildlife.
  2. Moving the tailings dam to the north-western corner of the tenure to reduce impact on trees and natural topography.
  3. Redesigning and relocating a section of the access road to avoid overlap with a stock cattle route.
  4. Repositioning process and non-process infrastructure to a cleared cropping area on the southern side of the pit.
  5. Re-designing the master haulage ramp for ore and waste from the northern edge to the southern edge of the pit.
  6. Partial back-filling of the open-pit to ensure stabilisation of final benches and facilitate convenient access to a proposed water reservoir at the bottom of the pit, thereby reducing end-of-mine-life rehabilitation costs.
These modifications aim to balance operational efficiency with environmental and community considerations, reflecting Elementos' commitment to responsible mining practices.

Peter Milios

Peter Milios is a recent graduate from the University of Technology - majoring in Finance and Accounting. Peter is currently working under equity research analyst Di Brookman for Corporate Connect Research.

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