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Future Operation of Shree Minerals Nelson Bay River Mine

The Environment Protection Authority (EPA) has been advised by Shree Minerals Ltd that it intends seeking a new planning permit for its magnetite mining site at Nelson Bay River, North West Tasmania.

The EPA Director, Wes Ford said that Shree’s Director had been in contact with him yesterday to advise about the Company’s plan to seek a new planning permit for the future operation of the mine, and its intention of providing for a properly constructed and approved waste rock facility to store potentially acid forming (PAF) outside of the mining pit.

Mr Ford said that he would now work with the Company to ensure that a Notice of Intent is lodged as soon as is practicable, allowing the EPA Board to commence a new assessment process.

"I’ve been reassured by Shree’s Director and Management of the Company’s commitment to its long term mining investment in Tasmania," Mr Ford said.

"Management of the current PAF waste rock dump is a high priority, so I will be looking to the Company to outline its approach over the short term," he said.

"The EPA issued Shree with an Environment Protection Notice (EPN) on 30 March 2015, requiring the company to deal with potentially acid-forming (PAF) waste rock produced at the Nelson Bay River mine site by May 2016.

"Importantly, the EPN also requires that the waste rock be managed in a manner that will not result in acid drainage entering the environment and resulting in environmental harm," he said.

"This part of the EPN will continue to be monitored and enforced," said Mr Ford.