Project construction nears for Atlas

West Perth-based junior Image Resources has announced construction will begin at its Atlas mineral sands project imminently, as it aims to capitalise on the site’s impressive ore reserves.

Presently, Atlas’ mineral sands deposit contains an estimated 5.5 million tonnes of ore reserves at 9.2 per cent total heavy minerals – with 96 per cent of the heavy minerals located within the proven ore reserves category.

Earlier this week, Patrick Mutz-led Atlas received a series of final approvals from both the commonwealth and Environmental Protection Authority, which will allow construction to begin at Atlas, located in the North Perth Basin, 180km north of the CBD.

“Receipt of these penultimate approvals for Atlas from the Commonwealth and EPA serve as the trigger for mobilisation of contractors and equipment to Atlas starting the week of August 12,” Mr Mutz said.

“Early construction works on the Atlas mining camp is more than 50 per cent complete and deconstruction of the relevant sections of the Boonanarring wet concentration plant for relocation to Atlas is well underway.”

The only remaining approval outstanding for Image to begin full mine development relates to abstraction and mine de-watering licences from the department of water and environmental regulation.

Image told the market its groundwater operating strategy at Atlas, which is essential in DWER approving both licences, is likely to be finalised in a couple of weeks.

On June 10, Mr Mutz said the mineral sands producer had an “aggressive construction schedule” and was aiming for its maiden heavy mineral concentrate production between the final quarter of 2024 and first quarter of 2025 – with initial revenue from Atlas likely to arrive thereafter.

Image shares were down 3 per cent as of 9.55am WST, trading at 6.6 cents.