New World Resources Advances Antler Copper Project with Key Federal Permit

Federal Permitting Milestone Achieved

New World Resources Limited (ASX: NWC) has reached a pivotal step in the development of its Antler Copper Project in northern Arizona, securing the Determination of Adequacy under the National Environmental Policy Act (NEPA) from the U.S. Bureau of Land Management (BLM). This determination confirms that the company’s Mine Plan of Operations (MPO) will undergo an Environmental Assessment (EA), a streamlined federal permitting process expected to conclude within 12 months.

The MPO is the sole federal permit required for Antler, positioning the project on a clear regulatory trajectory toward full federal approval by early 2026. Concurrently, New World anticipates progressive issuance of Arizona state permits throughout 2025, aligning with the federal timeline and reinforcing the project’s readiness for construction.

Strategic Timing Amid Favorable Political Climate

The timing of this milestone coincides with a broader U.S. political push to accelerate domestic critical mineral production. Recent White House Executive Orders emphasize streamlined permitting and prioritization of projects like Antler, which is rich in copper and other essential metals. This supportive regulatory environment enhances predictability and reduces permitting risk, a critical factor for investors and financiers.

New World’s Managing Director and CEO, Nick Woolrych, highlighted the significance of this achievement, noting the collaborative efforts with the BLM’s Kingman field office and the company’s commitment to sustainable mining practices. Woolrych emphasized that alongside permitting, the company is advancing its Definitive Feasibility Study and funding strategies, with high-quality counterparties expressing interest in streaming, strategic investment, and project financing.

Robust Project Economics and Development Outlook

The Antler Copper Project boasts a high-grade resource, with a JORC Mineral Resource Estimate of 11.4 million tonnes at 4.1% copper-equivalent grade, ranking it among the world’s highest-grade copper deposits. The Pre-Feasibility Study released in July 2024 outlines a 12.2-year mine life with steady-state annual production of approximately 30,100 tonnes of copper-equivalent metals, generating an estimated US$1.22 billion in pre-tax free cash flow.

Capital expenditure is forecast at US$298 million, with an attractive post-tax net present value (NPV7) of US$498 million and an internal rate of return (IRR) of 30.3%. These metrics underscore the project’s strong economic fundamentals, supported by a comprehensive mine plan that includes underground mining, processing facilities, and environmentally responsible waste management.

Next Steps and Market Implications

With federal and state permitting processes advancing in parallel, New World is targeting construction commencement in the second half of 2025 and first concentrate shipments by 2027. The company’s proactive engagement with local communities and tribal partners further strengthens its social license to operate, an increasingly important consideration in mining development.

Investors should watch closely as the Environmental Assessment progresses and state permits are finalized, alongside ongoing financing developments. The Antler Copper Project’s advancement reflects not only New World’s operational momentum but also the growing strategic importance of copper and critical minerals in global supply chains.