Silver Mines gets clearer road forward for Bowdens project

Silver Mines has received news out of the NSW Department of Planning, Housing and Infrastructure that helps clear the development pathway for its 100% owned Bowdens Silver Project.

Pic via Getty Images

• Silver Mines has more positive clarification on the approvals processes for its Bowdens project

• The NSW Planning Secretary has determined that a transmission line to power the project does not form part of the proposed Bowdens development

• This essentially reinstates the general approach taken to the planning assessment prior to a court decision that set aside Bowdens’ development consent

Special Report: Silver Mines has received news out of the NSW Department of Planning, Housing and Infrastructure that helps clear the development pathway for its 100pc owned Bowdens Silver Project.

Silver Mines (ASX:SVL) was granted development consent by the NSW Independent Planning Commission(IPC) in 2023 for Bowdens, which has a current JORC-compliant reserve of 71.7 million ounces of silver and ample resource growth potential.

However, last August the NSW Court of Appeal upheld an appeal by an activist group centred on the administrative process of the IPC.

That appeal questioned whether the IPC had fully considered the impacts of a potential transmission line, despite it being proposed during the three-year-plus approvals process for Bowdens that the line would be approved via an alternate pathway.

State significance

The NSW Planning Secretary has now confirmed that the 66kV transmission line to power Silver Mines’ project does not form part of the single proposed development – the Bowdens Silver Project (State Significant Development or SSD 5765). An SSD project is considered important for the state's economic, environmental or social well-being.

As interest in the grey metal heats up due to its use in clean energy, Bowdens is well placed as Australia’s largest undeveloped silver project, as well as one of the most substantial in the world and one of the most leveraged to the silver price.

The confirmation from the Department of Planning, Housing and Infrastructure (DPHI) aligns with the planning approach taken prior to the Court of Appeal’s decision and allows the power line to proceed via an alternate approval pathway.

It also follows SVL lodging a formal application under recently amended NSW planning laws aimed at clarifying the path to development consent last month.

And it comes after legislative changes passed by the NSW parliament last December, which were designed to address changes to state development approval protocols resulting from the Court of Appeal decision on Bowdens.

Ongoing engagement

Silver Mines managing director Jo Battershill welcomed the Planning Secretary’s determination.

“This provides important clarity on the scope of the Development Application and means that, should the IPC reinstate development consent of the Bowdens Project, Silver Mines will be in a position to progress with the development of the Project.

“This determination is a significant milestone for the Company and it reinforces the strength of our ongoing engagement with key stakeholders, the DPHI and other key government agencies. It additionally reflects our commitment to a staged, responsible, and transparent approach to development.

“We now look forward to finalising any further requirement for redetermination in the coming weeks as we work towards a final development consent for the Bowdens Project.

“As stated previously, the Bowdens Silver Project is one of the most substantial undeveloped silver deposits the world and we remain fully committed to its development.

“The project will bring enormous benefits to the local community through the creation of over 200 full time direct jobs and multiples of that number in indirect jobs for over 20 years.”

Silver Mines is now preparing additional information requested by the DPHI, with a Supplementary Assessment Report expected to be submitted to the IPC in the September Quarter this year.

This article was developed in collaboration with Silver Mines, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as Silver Mines gets clearer road forward for Bowdens project