Anax Metals has entered a memorandum of understanding (MoU) with Artemis Resources to jointly evaluate the potential for processing copper resources at the Whim Creek Processing hub in Western Australia (WA).
The MoU outlines the intent to explore technical studies and regulatory approvals necessary for processing Artemis’ Greater Carlow copper resource at the Whim Creek hub.
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Located in the West Pilbara region of Western Australia, Whim Creek is positioned near Artemis’ Carlow Castle deposit.
Anax owns an 80% stake in the Whim Creek hub while Develop Global holds the remaining 20% interest.
This hub is set to include a new 400,000 tonnes per annum (tpa) concentrator and a refurbished heap leach facility, with the potential to fully utilise its processing capacity.
The MoU also opens the possibility for Artemis to explore gold mineralisation on the Whim Creek Project tenure.
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By GlobalDataUnder the terms of the MoU, both parties will contribute to the joint assessment, which will help develop a legally binding agreement. Options such as asset sale/purchase, joint ventures, or mining and funding agreements are being weighed.
The collaboration is expected to enhance operational efficiencies, improve contract rates, better funding terms, and lower fixed costs due to economies of scale. It also aims to minimise the environmental footprint by using a single processing facility.
The MoU is valid for 12 months, with a 30-day written notice period for termination by either party.
Anax managing director Geoff Laing said: “We are extremely pleased to be working with Artemis on potential copper/gold production via the planned Whim Creek hub and to advance gold exploration opportunities at the project.”
Artemis executive director George Ventouras said: “We are thrilled to collaborate with Anax Metals on the Pilbara copper alliance via this MoU and expand our own potential for gold exploration.”
In May 2024, Anax Metals signed an MoU with Greentech Metals to assess the potential collaboration on copper-focused base metal assets in WA.
