GreenTech (ASX:GRE) and Anax (ASX:ANX) form Pilbara-based metals alliance

GreenTech Metals and Anax Metals have signed a memorandum of understanding for ore treating and look to form an alliance with a target of more than 20,000 tonnes of copper-equivalent production a year from the Western Australian Pilbara.

Combined resources currently total 185,000 tonnes of contained copper with another 256,000 of zinc, and the pair believes an amalgamated project could yield a substantially longer and more efficient operation.

Anax has a fully permitted processing site in place at its Whim Creek project with near-term production potential and the ability to treat both primary and secondary ore.

And GreenTech has a strongly graded resource in place within an open-pittable deposit at its Whundo project, standing to benefit from those same near-term prospects.

Together the pair sees an offering of higher efficiencies, processing terms, mine life, contracts, funding and offtake terms alongside lower costs and lesser environmental impact.

GreenTech Managing Director Tom Reddicliffe said joining forces was a great opportunity that could see a formalised alliance taking significant steps towards establishing long-term operations.

“Our project already has defined open-pittable copper and zinc resources and potential to define additional near surface resource tonnes at both Yannery and Ayshia,” Reddicliffe said.

“The alliance could be the catalyst that the West Pilbara needs to become a significant copper producer and we look forward to working closely with Anax to make this a reality.”

Anax Managing Director Geoff Laing said his company looked forward to delivering scalable assets with near-term energy metal production.

“We are extremely pleased to take these first steps towards creating an expanded Pilbara copper business with our neighbours,” Laing said.

The companies also plan to collaborate on feasibility studies and permitting and have executed a non-disclosure agreement to begin properly assessing the potential of their Pilbara partnership.

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