The leases for Moly Mines Spinifex Ridge molybdenum-copper project mining areas have been granted by the Western Australian Department of Industry and Resources.

Moly Mines managing director Derek Fisher says this major milestone for the company is indicative of the continuing transition of the Spinifex Ridge Project from feasibility to development.

The leases, which total 20.75sqkm, cover the entire 469 million tonne measured and indicated molybdenum ad copper resource and all indicated mining activities for the 20-year plus mine life outlined by studies currently under way by the company.

The mining leases have been granted for an initial term of 21 years with the strong support and co-operation of the traditional landholders, the Njamal people and the Pilbara Native Title Service.