South Africa’s Minerals and Energy Department has approved Vancouver-based Great Basin Gold’s environmental plan for its Burnstone project, in Mpumalanga province.
Great Basin Gold said last week that it would now execute the mining rights granted in October last year to its wholly owned subsidiary, Southgold Explo-ration, to mine gold, silver and aggregate in the Burnstone area’s Area 1.
“This is another important milestone in the history of Great Basin Gold, as it clears the way for commercial mining at the Burnstone project,” CEO and president Ferdi Dippenaar said.
Great Basin Gold targets commercial mining by June 2010, he added.
The mining rights were valid for an initial period of 18 years from the date of execution; however, Great Basin Gold would apply for an extension of the licensing period, under the terms of the Mineral and Petroleum Resources Development Act, which made provision for the renewal of the mining licence for periods not exceeding 30 years at a time.
To subscribe to Mining Weekly's print magazine email subscriptions@creamermedia.co.za or buy now.




.gif)
















