Productive discussions: WHY Resources – New permit application submitted for magnesium project

WHY Resources (WKN A1J5LQ / TSXV WHY) hopes to launch its Record Ridge magnesium project in the near future. To this end, it has now submitted an amended permit application with which it hopes to bypass a hurdle set up by the authorities.

For years, the company had been pushing Record Ridge forward as an industrial minerals project, also with the knowledge of the British Columbia Environmental Assessment Office (EAO) – only to learn recently that the unique project was being assessed as a classic mining project. This would have required a lengthy and expensive environmental impact assessment given the previously planned production volume of 200,000 tons per year.

But West High Yield has found a way to launch the extremely promising project (more information here) without such an examination – namely as a classic mining project with an annual production of

To this end, WHY Resources recently announced that it had a productive “forward-looking” meeting with British Columbia’s Ministry of Energy, Mines and Low Carbon Innovation (EMLI). During the meeting, the company outlined its amended permit application for the extraction and mining of “critical minerals” at the so-called RRIMM (Record Ridge Industrial Mineral Mine) project, which included reducing the planned annual production below the threshold set by the EAO.

According to WHY Resources, the company’s consultants submitted the amended application to EMLI on September 17th and have also submitted detailed responses to all previous comments from the British Columbia Mine Development Review Committee.

In detail, it was announced at the EMLI meeting that the annual tonnage of the RRIMM project was set at 63,500 tonnes per year, in order to remain 15% below the 75,000 tonne threshold of the EOA. In addition, there were other, smaller adjustments to the mining plan for RRIM, which were advised to the company by participants at the MLI meeting.

The amended application now awaits review by the Mine Development Review Committee, which will then provide feedback and announce the next steps in the approval process.

Conclusion: It is undoubtedly more than annoying that just before the finish line the permit application for the Record Ridge project had to be changed again and the planned annual production had to be reduced considerably. Nevertheless, even with this scale of operations, it is theoretically possible to make really good money with the extremely high-grade magnesium project. The way forward is definitely clear and the next steps have already been initiated. We’re keeping our fingers crossed!

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