Sandfire Resources (ASX:SFR) said that the Supreme Court of Montana upheld a 2023 district court ruling on the water rights permit for the Black Butte copper project, according to a Jan. 4 Australian bourse filing.
The Court ruled that mine dewatering is not a beneficial use of water in a 5-2 decision.
Objectors led by environmental organizations had filed a suit against the Montana Department of Natural Resources and Conservation and Tintina Montana in August 2022. The department had determined that Tintina satisfactorily met the criteria for the issuance of a beneficial groundwater permit.
The organizations appealed the decision to the Montana district court. The district court's Judge Hayworth dismissed their petition for judicial review on April 12, 2023, ruling that the department and the hearing examiner properly determined mine dewatering is not a beneficial use of water.
The objectors appealed the district court's decision to the Montana Supreme Court in May 2023.
Sandfire Resources America, a Toronto-listed unit of Sandfire, wholly owns the project.
Sandfire Resources' shares slipped almost 1% in recent Monday trade.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。