REG - URU Metals Limited - Environmental Authorisation Granted for Zeb Nickel

URU MetalsAnnouncement

21/08/2024 07:00

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RNS Number : 1484B  URU Metals Limited  21 August 2024

21 August 2024

URU Metals Limited

("URU")

Zeb Nickel Corp - Environmental Authorisation Granted for Zeb Nickel Project

URU notifies that Zeb Nickel Corp. announced on 20 August 2024 that the South
African Department of Minerals and Petroleum Resources (DMPR), formerly known
as the Department of Mineral Resources and Energy, has granted Zeb Nickel Corp
("Zeb Nickel" or the "Company") an Integrated Environmental Authorisation
under the National Environmental Management Act (NEMA) (Act 107 of 1998) and
the Environmental Impact Assessment Regulations (2014) for the Zeb Nickel
Project (the "Project") located in Limpopo Province, South Africa. This
authorization marks a significant milestone in the process of obtaining Zeb
Nickel's mining right, which will permit the extraction of nickel, copper,
platinum-group metals, gold, chrome, cobalt, vanadium, and iron ore for a
period of 30 years from the date of issuance.

The Company was granted the Integrated Environmental Authorisation and was
instructed to notify all Interested and Affected Parties (I&APs) of the
DMPR's decision in writing within 14 days of receiving it, in accordance with
the Environmental Impact Assessment Regulations. Consequently, the Company
sent out a notification to all interested and affected parties. Those wishing
to appeal any aspect of the decision were given 20 calendar days from the date
of notification to submit an appeal to the Minister of Forestry, Fisheries,
and Environment and to send a copy of the appeal to the DMPR. The appeal
period has now concluded. The receipt of the Integrated Environmental
Authorisation marks a significant milestone for the project, concluding a
phase that lasted more than four years. The Environmental Impact Assessment
(EIA) process required 16 expert specialists to conduct various environmental
studies in and around the project area. The granting of the Integrated
Environmental Authorisation will allow the Project to undertake the various
listed activities in the Project's approved EIA and as specified by the DMPR,
and as further listed in the National Environmental Management Act 107 of 1998
(NEMA) EIA and National Environmental Management: Waste Act 59 of 2008 (NEMWA)
EIA.

This authorisation is a critical approval that allows the Company to proceed
with the ultimate development of a mine on the Zeb Nickel Project, ensuring
that all environmental impacts have been thoroughly assessed and mitigated in
accordance with national and international standards. The authorisation covers
various aspects of environmental management, including air quality, water and
waste management, and biodiversity protection. The Project now awaits the
approval and granting of the mining right from the DMPR, the final regulatory
approval required for the project to commence with mining activities.

The Company's strategic objectives to increase the overall nickel grade and
improve the economics of the project remain in place. This will be achieved by
further drilling, targeting the higher grade lower geological units recently
identified in Zone 1, as well as the entirety of Zone 2, located beneath and
adjacent to Zone 1, where higher nickel grades and additional copper and
platinum-group mineralisation are present.

"We are thrilled to receive this authorisation, which is a testament to our
dedication to environmental responsibility. Our team has worked diligently to
ensure that the Zeb Nickel Project meets all regulatory requirements and
contributes positively to the local community and environment. Zeb Nickel has
engaged in extensive consultations with local communities, stakeholders, and
environmental experts throughout the application process. The company remains
committed to maintaining transparent communication and collaboration with all
relevant parties as the project moves forward. Zeb Nickel Corp. acknowledges
the support and cooperation of the Department of Minerals and Petroleum
Resources (DMPR), local communities, and environmental organizations that
contributed to achieving this authorisation. We look forward to continuing our
work in the project area and ensuring that the Zeb Nickel Project is developed
in an environmentally responsible manner," commented Anthony James
Nieuwenhuys, Chief Executive Officer and Director of Zeb Nickel.

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with URU's obligations under Article 17 of MAR.

For further information, please contact:

 

 URU Metals Limited               +1 416 504 3978

 John Zorbas

 (Chief Executive Officer)

 SP Angel Corporate Finance LLP   + 44 (0) 203 470 0470

 (Nominated Adviser and Broker)

 Ewan Leggat

 Caroline Rowe

About the Company and Project

Zeb Nickel Corp is focused on exploring for and developing world-class mineral
deposits, with a focus on metals that are critical in the production of
rechargeable batteries, such as nickel, graphite, lithium, cobalt, manganese,
copper and aluminum. The Company is currently focused on developing its
flagship Zeb Nickel Project, located in Limpopo, South Africa. The Zeb Nickel
Project is a developing Class 1 nickel sulfide project strategically located
in the Bushveld Complex in South Africa. The Zeb Project Contains a historical
NI 43-101 compliant resource over 3.9 million tons of contained sulfide
nickel, ranking it number 8 in the global top ten nickel sulfide resources
(Mudd, G. M., & Jowitt, S. M. (2014). A detailed assessment of global
nickel resource and trends and endowments. Economic Geology, 109(7),
1813-1841).

 

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