Anax Metals announces waste rock project update

Anax Metals (ASX:ANX) is gearing up to generate near-term revenue by repurposing waste rock at the Whim Creek site. Having secured all necessary permits, the company plans to commence production in early 2025, creating construction materials such as road base and aggregates. This initiative is part of Anax's strategy to diversify revenue streams and enhance shareholder value.

Anax Metals' strategic outlook and goals

Anax Metals is advancing its waste rock project at the Whim Creek site, with production set to begin in early 2025. By converting waste rock into construction materials, Anax aims to tap into the growing demand for aggregates in the Pilbara region, as confirmed by an Independent Market Assessment. The project is strategically located to benefit from logistics advantages and existing infrastructure, and aligns with Anax's commitment to sustainability and economic growth. Anax is working on finalizing commercial agreements and securing product sales contracts, while also advancing its copper project strategy. With permits in place to process 500,000 tonnes of waste rock annually, the company is poised to enhance its revenue streams and support its goal of a circular economy.

Executive commentary from Anax Metals

Geoff Laing, Managing Director, emphasized the focus on generating near-term cash flows and diversifying revenue.