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Beacon Hill Resources may have to wait until the second quarter of 2010 before getting a mining licence because of a protracted court tribunal connected to its application.
Beacon Hill is looking to press ahead with developing its Arthur River magnesite project in north-west Tasmania, which has a current JORC-compliant measured and inferred resource of 39 million tonnes of magnesite.
For some weeks the company has been trying to get its hands on a mining licence, but an objector has forced the need for a lengthy court process. At the latest hearing, yesterday, Beacon Hill applied to dismiss the objection as it stands but a decision has been deferred until another court date scheduled for March 24 in order to allow the existing objector to make any further submissions.
In the meantime, the company is continuing to work to a timetable that will see production at the Arthur River Project begin by the end of 2011. Regardless of what happens with the mining licence, Beacon Hill said it would push on with completing the Development Proposal and Environmental Management Plan by the end of 2010.
Justin Lewis, the executive chairman of Beacon hill, said: "The board is pleased as we continue to make good progress at the Arthur River Project, despite the delays in being granted a mining lease. We remain confident that the permitting process will result in a positive decision by the tribunal."