Ark Mines (ASX:AHK) has achieved a regulatory milestone with the Queensland Government granting a mining licence for its 100%-owned Sandy Mitchell Rare Earth Elements and Heavy Minerals Project.
The licence, which falls under tenure EPM 28013, encompasses approximately 406 hectares in North Queensland.
The area covers the project’s measured mineral resource estimate, currently sitting at 71.8Mt at 1,732ppm Monazite Equivalent.
The statutory approval marks the official transition of the project from the exploration phase into active development.
Managing Director Ben Emery noted that the grant follows 12 months of intensive resource expansion drilling, metallurgical testwork, and processing trials.
With the licence secured, the company is now positioned to accelerate detailed engineering studies, development planning, and formal offtake discussions with international partners.
Looking ahead, Ark Mines is preparing to release an updated scoping study shortly, which will incorporate enhanced processing pathways and improved economic projections.
The study serves as a precursor to a comprehensive pre-feasibility study, expected in the second half of 2026.
The PFS will integrate results from recent drilling programs to further refine the mineral resource estimate.
At the time of reporting, Ark Mines' share price was $0.42.