Mining at Podosky Hinges on Assay Results and Native Title Clearance

Regulatory Milestone Achieved

Native Mineral Resources Holdings Limited (ASX, NMR) has announced a significant regulatory advancement with the finalisation of the Estimated Rehabilitation Cost (ERC) decision by the Department for Environment and Science. This decision pertains to the Environmental Authority covering Mining Lease ML 10315 at the Podosky site, a critical step that enables the company to proceed with resource activities under the Environmental Authority.

Advancing the Podosky Program

The ERC period is now in effect for the entire duration of the planned resource activities, effectively clearing the path for Native Mineral Resources to move forward with its mining plans. The company has completed all necessary landholder engagements, with stakeholders expressing support for the next phase of mining operations. Native title clearance is on track to be completed by the end of December 2025, a prerequisite for commencing early works.

Drilling and Mining Timeline

Early January 2026 will see the mobilisation of a drilling rig to the Podosky site, initiating a short drilling program designed to inform mine design and planning. Assay results are expected by late January, which will feed into geological modelling and pit optimisation efforts scheduled for early February. Following this, drill-and-blast activities and the mobilisation of mining equipment will set the stage for mining operations to begin by mid-February.

Ore Processing and Strategic Alignment

Ore extracted from Podosky is planned to be hauled to Native Mineral Resources’ Blackjack Operations for processing, with the first smelt targeted for late February 2026. This initiative aligns with the company’s broader strategy to enhance plant utilisation by integrating complementary ore sources alongside its existing Charters Towers assets, potentially improving operational efficiencies and production output.

Looking Ahead

While the ERC decision and stakeholder engagement mark important progress, the company’s forward-looking statements underscore the conditional nature of these plans, dependent on regulatory compliance and operational outcomes such as assay results. Native Mineral Resources appears poised to deliver on its timeline, but investors will be watching closely as drilling results and native title clearances unfold in the coming weeks.