Vault Minerals Lodges Permit for Sugar Zone Restart
Key points
- Lodged Closure Plan Amendment to restart operations
- Netmizaaggamig Nishnaabeg supports the restart
- Enhanced geological confidence with significant exploration potential
Full summary
Vault Minerals Limited has submitted a fully certified Closure Plan Amendment (CPA) to the Ontario Ministry of Energy and Mines, marking a significant milestone for the planned restart of operations at Sugar Zone in Q1 FY27. The submission follows an exhaustive technical review and consultation with First Nations communities regarding the proposed Southern Tailings Management Facility (STMF). The CPA will be published on the Environmental Registry of Ontario for 45 days, after which it will be filed. The company has also received a draft Sewage Environmental Compliance Approval (ECA) for the STMF from the Ministry of Environment, Conservation and Park. Netmizaaggamig Nishnaabeg Chief, Clyde Jacobs, has expressed support for the restart, highlighting Vault's commitment to responsible development and a mutually beneficial relationship.
Guidance
Vault Minerals plans to recommence mining in Q1 FY27 and processing in Q1 FY28.
Outlook
Vault Minerals anticipates a low capital intensity restart, leveraging existing infrastructure and enhanced geological data to achieve a production profile of approximately 50,000 ounces annually over a 7-year life of mine.
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