Vancouver-based Western Copper is looking at potential changes to its Carmacks copper project in the Yukon to address environmental concerns, and has also filed a notice of appeal with the Yukon Court of Appeal “to obtain maximum flexibility”, the firm said on Friday.
The Yukon Supreme Court ruled last month that the territory's Water Board did not have to accept the findings of the Yukon Environmental and Socio-economic Assessment Board, which earlier concluded that the project could be built and operated without significant environmental effect.
The water board told Western Copper in May last year that its application for a water use licence would be denied.
The firm had already received all the other approvals it needed, including a construction licence, which was awarded in April 2009.
“The company has initiated engineering studies to determine whether certain aspects of the project could be modified to improve the project's reclamation process, and thus satisfy the main concern of the Yukon Water Board,” the firm said on Friday.
It is also working with regulatory authorities in the Yukon to establish the next steps towards getting the Carmacks project fully licensed.
"We are evaluating the options relating to the Carmacks project," said CEO Dale Corman.
The company expects to complete its evaluations and be able to outline a path forward “over the next few months” towards receiving the water licence, he said.
The Carmacks project could produce an average of 14 500t/y of copper cathode, according to a May 2007 feasibility study.
Besides Carmacks, Western Copper is also developing the Casino project, in the Yukon, where it has completed a prefeasibility study.
Shares in the company declined 1,76% on Friday, to C$3,35 apiece by 15:59 in Toronto.
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