Join our daily newsletter At The Bell to receive exclusive market insights
- Theta Gold Mines (TGM) receives a water use license (WUL) for its mining right 83, covering the majority of the Transvaal Gold Mining Estate (TGME) gold project in South Africa
- The award comes from the South African Department of Water and Sanitation (DWS) and authorises the extension of the current tailings storage facility and water use activities at the project
- The DWS will inform all interested and affected parties to instigate a 90-day public review and objection period to end on June 30 2023
- Meanwhile, Theta is in the final stage of discussions with the Department of Mineral Resources and Energy (DMRE) for environmental approval of its final Life of Mine rehabilitation
- TGM shares are down 4.23 per cent, trading at 6.8 cents at 12:40 pm AEST
Theta Gold Mines (TGM) has been granted a water use license (WUL) for its mining right 83, which covers the majority of the initial Transvaal Gold Mining Estate (TGME) gold project in South Africa.
The license from the South African Department of Water and Sanitation (DWS) will cover most of the company’s TGME in the Mpumalanga Province, and follows the company’s feasibility study.
The DWS plans to inform all interested and affected parties to instigate a 90-day public review and objection period to end on June 30 2023.
The company said the WUL would form an integral part of the TGME underground project since it authorised the extension of its current tailings storage facility and all planned water use activities within the MR83 area.
“The WUL is a key derisking event in South Africa, it addresses all aspects of proposed mining activities concerning surface and underground water,” TGM Chairman Bill Guy said.
“The WUL came after many months of hard work by our management team and contracted experts, together with many of our key stakeholders, where the company was able to address all concerns from interested and affected parties,” Mr Guy said.
TGM is now in the final stage of discussions with the Department of Mineral Resources and Energy (DMRE) for environmental approval of its final life of mine rehabilitation.
TGM said its stakeholder engagement forum would be kept updated to monitor license compliance and keep its investors updated on the environmental impact assessment (EIA) approvals to follow.
TGM shares were down 4.23 per cent, trading at 6.8 cents at 12:40 pm AEST.
