Anax Metals and Artemis Resources have signed a memorandum of understanding (MoU), marking the formation of a copper alliance in the Pilbara region of Western Australia.
The MoU will assess the potential of treating copper from Artemis’ Greater Carlow resource at Anax’s proposed Whim Creek processing hub.
It will also assess potential for Artemis to explore for gold mineralisation on the Anax project tenure located approximately 70km from De Grey Mining’s Hemi gold deposit.
The joint assessment will assist the companies in developing the terms of a legally binding agreement that would allow for Artemis’ copper to be processed at Whim Creek. The MoU is set for a 12-month term.
“We are extremely pleased to be working with Artemis on potential copper/gold production via the planned Whim Creek hub and to advance gold exploration opportunities at the project,” Anax managing director Geoff Laing said.
“Our region is prolific with copper and gold potential, and we look forward to applying the key strengths of our respective teams to delivering positive outcomes via the production hub and an expanded gold exploration initiative at Whim Creek.”
The alliance is set to deliver several benefits to both Artemis and Anax, including increased operational efficiencies, improved open-pit mining contract rates due to an increased mine-life, and a reduction in project costs and environmental footprint due to utilising a single processing facility.
“We are thrilled to collaborate with Anax Metals on the Pilbara copper alliance via this MoU and expand our own potential for gold exploration,” Artemis executive director George Ventouras said.
“The west Pilbara region of Western Australia is an exciting jurisdiction to be operating in and this initiative allows each company to focus on its strengths and on delivering results for all stakeholders.”
Earlier this year, Anax signed a MoU with GreenTech Metals to evaluate the potential to treat GreenTech base metals assets at Whim Creek.