HVY starts permitting for garnet project

Our garnet Investment, Heavy Minerals (ASX: HVY) announced the start of permitting work at its Port Gregory mineral sands project.

HVY have engaged Martinick Bosch Sell Environmental to start permitting the Port Gregory project with the initial evaluation phase due to be completed in Q4 2023.

Martinick Bosch Sell Environmental notably did the permitting Resource Development

Group's Lucky Bay Garnet mine which is located just 20kms north of HVY’s primary project:

We see today’s development as a further stride toward HVY's goal of having its garnet mine up and running by 2026 - which we expect will coincide with a strong supply demand imbalance for garnet - a key material used in removing rust from ships and major pieces of infrastructure like bridges.

Catch up on HVY’s progress since our Initial Investment with these links:

Introducing Heavy Minerals (ASX:HVY)

Garnet Guru Joins $6M mineral sands microcap HVY

HVY Royalty Funding paves the way for Garnet PFS

What’s next for HVY?

We think a key focus for HVY will be securing additional non-dilutive funding through its existing royalty funding agreement.

HVY will be looking to add to the $500K of funds it has already received from this agreement - which will be used to pay for the Port Gregory pre-feasibility study (PFS).

This PFS will be a crucial part of HVY’s plan to reach a Final Investment Decision for what could be a globally significant garnet mine.

🎓Learn: An introduction to mining permits & what is tenure?

🎓Learn: Feasibility Studies Explained: Evaluating Project Viability