Metallica removes roadblock

METALLICA Minerals shares have rocked up almost 23% in morning trade after the company’s long-stalled 1.5 million tonne per annum Urquhart bauxite project leapt forward with a binding access agreement for a 15km-long haul road to established barge loading facilities at Hey Point.

Metallica removes roadblock Metallica removes roadblock Metallica removes roadblock Metallica removes roadblock Metallica removes roadblock

Urquhart

Metallica has been trying for years to get its modest Cape York development into production, but has had difficulty developing the road over ground understood to be held by Rio Tinto.
 
Metallica helped Green Coast Resources become the first independent company to export bauxite from Cape York since 1963 in 2016, but struggled for about two years to gain access to the port it helped fund via a loan.
 
The company has already lodged the requisite updated mining lease application to cover the proposed road with the Queensland government. 
 
Metallica is hopeful of a swift approval given it understands the state government is keen to see production from Urquhart as soon as possible. 
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