BCI gets EPA nod for Iron Valley extension

The Environmental Protection Authority has recommended approval of BC Iron’s extension plans at its Iron Valley mine near Newman.

BCI plans to extend the depth and area of the iron ore mine’s existing pits below the watertable, as well as develop a new mine pit.

EPA chairman Tom Hatton said the extension proposal was tested against key factors, and recommended it could be implemented subject to seven conditions.

“The conditions we have recommended include preparation of an outcome-based environmental management plan to minimise the long-term impacts from groundwater abstraction and surplus dewater discharge run-off, and alterations to surface water flows to Weeli Wolli Creek,” he said.

“Conditions also require the proponent to minimise hydrological impacts to Aboriginal heritage values linked to the creek and to contribute to an improved conservation offsets fund.”

BCI began exporting ore from the Iron Valley operation in late 2014, with Mineral Resources operating the mine as head contractor.

Last month, BCI said Iron Valley was on track to achieve its FY17 pre-tax earnings guidance of between $6 million and $16 million.

BCI shares were 12.9 per cent higher to 17.5 cents each at 11am.