Column: Trump 2.0 won’t reverse Biden’s critical minerals push
Donald Trump has described the Inflation Reduction Act (IRA) as a "green scam" and vowed to repeal it after he returns to the White House in January.
Integra Resources (TSXV: ITR; NYSE: ITRG) has submitted the draft mine plan to the US Bureau of Land Management (BLM) for the DeLamar project in southwest Idaho, about 100 km from the capital of Boise. The project includes the historic DeLamar gold mine and the past-producing Florida Mountain gold-silver mine.
Submitting the mine plan is a major step in moving permitting for the DeLamar mine forward. Baseline environmental and cultural data are included. The document also includes preliminary engineering and site design such as the pit layout, heap leach location, waste rock storage, and sequencing. It further incorporates access roads, power generation, primary crushing and processing.
“This not only represents a critical milestone in the advancement of the project, but also sets Integra apart from its peers, being one of only a few development companies in the western US with a project entering the NEPA (US Environmental Policy Act) permitting process,” said Integra president and CEO Jason Kosec.
The DeLamar resource estimate includes oxide, mixed, and non-oxide material at DeLamar and non-oxide material at Florida Mountain, stockpiles, and heap leaching ores.
The total measured and indicated resource is 247.8 million tonnes grading 0.32 g/t gold (containing 2.9 million oz. gold) and 18.1 g/t silver (142.7 million oz. silver). The inferred resource is 43.1 million tonnes at 0.31 g/t gold and 10.8 g/t silver. All told there are almost 4.8 million gold-equivalent oz. at the project.
The 2022 prefeasibility study gave DeLamar an after-tax net present value with a 5% discount of $314 million and an internal rate of return of 33% with a gold price of $1,700/oz. and a silver price of $21.50/oz.
While the mine plan is under review by the BLM, Integra will continue permitting efforts in anticipation of environmental hearings. The company’s Indigenous engagement efforts are under way, as well; it includes a framework for identifying, managing, and mitigating any potential impacts on culturally sensitive areas or historical sites.
