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- Theta Gold Mines (TGM) has provided an update to shareholders on its Environmental Authorisation (EA) timeline for one of its South African assets
- The mining company has applied for an amendment to the Mining Right 83 (MR83) to also permit open pit mining
- MR83 — which is part of the company’s Theta (Open Cut) Project — is already EA approved for underground mining and ore processing
- TGM recently received a letter from the South African Department of Mineral Resources and Energy acknowledging its amended permit was being reviewed
- The Department also advised Theta it can expect a decision on the open-pit mining request sometime next month
- Theta Gold Mine is trading up 1.61 per cent at 31.5 cents per share
Theta Gold Mines (TGM) has announced an update to shareholders on its Environmental Authorisation (EA) timeline for one of its key South African assets.
The ASX-listed mining company has applied for an amendment to Mining Right 83 (MR83) from the South African Department of Mineral Resources and Energy.
Theta wants MR83 — which is part of the company’s Theta (Open Cut) Project —to be given the environmental green light for open-pit mining.
The asset has already been EA approved for underground mining, ore processing and depositing residues onto an existing tailings dam.
In a letter received yesterday, the Department of Mineral Resources and Energy told TGM it had received the amended permit and it was being reviewed.
The authoritative body also advised Theta it could expect a result by the end of November at the latest.
“We are pleased to receive the DMRE’s confirmation of support towards our EA application for MR83 and its commitment for a decision by the end of November,” Theta Gold Chairman Bill Guy stated.
“Through the EA process, Theta Gold has implemented a positive and wholistic environmental strategy that has gained traction with local communities,” he added.
Following the EA timeline update, Theta Gold Mine is trading up 1.61 per cent at 31.5 cents per share at 2:55 pm AEDT.
