An announcement from VRX Silica Ltd. ( (AU:VRX) ) is now available.
VRX Silica Ltd. announced that the Environmental Protection Authority of Western Australia has recommended approval for its Arrowsmith North Silica Sand Project, pending a decision by the Minister for Environment. Despite an appeal by the Conservation Council of WA, the company expects to complete permitting by the second quarter of 2025. The project is anticipated to bring significant economic benefits to Western Australia, including employment opportunities and royalties. Additionally, VRX has signed non-binding offtake agreements with major sand importers in South Korea, Japan, and Taiwan, adding 440,000 tonnes of offtake interest for Arrowsmith North silica sand, with potential growth to 640,000 tonnes per year.
More about VRX Silica Ltd.
VRX Silica Ltd. operates in the silica sand industry, focusing on the development and supply of silica sand products. The company owns several silica sand projects in Western Australia, including Arrowsmith North, Muchea, and Boyatup. VRX is also exploring other silica sand and downstream processing projects in Australia, aiming to cater to the growing Asian market.
YTD Price Performance: -2.33%
Average Trading Volume: 609,887
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$31.39M
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