WPG Resources receives approval for Peculiar Knob Iron Ore Mine

The Commonwealth government has approved the development of WPG Resources' ship Peculiar Knob iron ore mine. (Picture: WPG Resources)

WPG Resources (ASX:WPG) announced that the Commonwealth government has approved the development of the Company’s flagship Peculiar Knob iron ore mine south east of Coober Pedy, along with all of the associated infrastructure.

Sydney (NSW), Australia – The Commonwealth’s approval was foreshadowed in WPG’s ASX announcement of 30 May 2011. The above announcement also referred to the Development Application lodged by the Company for the Port Pirie ore receival, storage and loading facility. This application was recommended for approval by the South Australian Development Assessment Commission in May. The Commission’s recommendation is now being considered by the Minister for Urban Planning, Development and the City of Adelaide.

WPG expects that the Mining and Rehabilitation Program (MARP) for Peculiar Knob will be approved during July 2011.

These three approvals, of which one is now to hand and the other two are imminent, are the key final regulatory hurdles required in order for WPG to gain site access to commence project construction, and to draw down on the Deutsche Bank project loan facility.