Burbanks North approved

The approval allows for openpit mining at the Burbanks North and Fangjaw deposits.

Barra on Tuesday noted that the Burbanks North deposit forms part of a joint venture agreement with FMR Investment, under which that company could assume all mining and financial risks for the project area, with net profits from the mining operation to be set aside in a future fund for exploration at the greater Burbanks project.

Should FMR elect to proceed with mining at Burbanks North, it would be conducted at the company’s sole discretion with regards to the timing of mining, to fit in with FMR’s current mining activities at its wholly owned projects.

On FMR’s election to proceed with mining at Burbanks North, the company would be required to submit a project management plan for approval.