Anchor cops penalty

MINERAL exploration company Anchor Resources, which is currently exploring the Wild Cattle Creek area for antimony deposits, has been issued with a penalty infringement notice from the NSW Department of Trade and Investment for not properly rehabilitating some of its test-drill sites in the past.

In a report submitted by the company to the Australian Stock Exchange (ASX) on January 17, Anchor - recently taken over by Chinese company Shandong Jinshunda - states the department had reprimanded the company on a number of drill sites within its Bielsdown exploration project, which includes the Wild Cattle Creek area, north of Dorrigo.

"In January 2012 the Department of Trade and Investment Resources and Energy notified Anchor that some aspects of the rehabilitation of drill sites used by the company in its 2009 and 2010 drilling programs had not been satisfactorily carried out," Anchor states in the report.

"This directive was contained in a notice under Section 240 of the Mining Act 1992. Anchor was also served with a penalty infringement notice of $2500."

Anchor managing director Ian Price yesterday confirmed the notice and said the company was now working on fixing the problem.

"The department has inspected the site at the request of a landowner and their view is that the rehabilitation work that was done in 2009 and 2010 by the company isn't complete and satisfactory and there are some issues which need to be resolved," Mr Price said.

"I accept the regulator's view and we have agreed that we'll sit down with them and the landowner and agree on a plan."

He said Anchor Resources - which has recently undergone a major shake-up at shareholder and management levels - was disappointed the work, which he said was carried out under previous management, was not up to scratch and said the company would be working to a higher standard in the future.



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