- Write by:
-
Friday, January 1, 2021 - 12:26:57 PM
-
529 Visit
-
Print
Mining News Pro - Orea Mining announced on Thursday that the French court ordered the renewal of the Montagne d’Or mining concessions within six months.
Located in French Guiana, the open pit gold mining project hosts Proven Mineral Reserves of 8.25 Mt at 1.99 g/t (530,000 oz) and Probable Mineral Reserves of 45.87 Mt at 1.50 g/t (2.2 Moz).
The Montagne d’Or joint-venture (owned 44.99% by Orea and 55.01% by Nord Gold SE) submitted renewal applications for a 25-year period for two core mining concessions in December 2016. In the absence of a decision from the Minister of Economy the JV filed proceedings in February and March 2019 in the Administrative Court of Cayenne in French Guiana to invalidate any implicit refusal.
The Court ordered the state to extend the mining concessions and to set the duration of the extensions within a period of six months from the notification of the court judgment. The Minister of Economy will have two months to appeal the decision.
“The Court also noted the completeness of the applications and the JV’s financial and technical capabilities to develop the project. Now that the mine redesign is essentially complete, culminating in years of outstanding work by the JV to make this project technically and environmentally exemplary, we now see a clear path for the development of one of the best grade open pit gold deposits in the Guiana Shield,” Orea CEO Rock Lefrancois said in a media statement.
According to the company, the current schedule is to finalize the environmental and mining authorization applications in the first quarter of 2021.
Midday Thursday, Orea’s stock was up 35% on the TSE. The company has a C$37 million market capitalization.
Short Link:
https://www.miningnews.ir/En/News/609899
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
Gold took a tumble as haven demand waned after geopolitical tensions eased in the Middle East.
The four largest indigenous communities in Chile’s Atacama salt flat suspended dialogue with state-run copper giant ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Representatives from the Peñas Negras Indigenous community, in northwestern Argentina, clashed with heavily armed police ...
Newmont confirmed on Wednesday that two members of its workforce died this week at the Cerro Negro mine located in the ...
Chinese investors are snapping up stocks tied to high-flying metals from copper to gold, aiding an onshore market facing ...
Outflows from global physically backed gold exchange traded funds (ETFs) continued for a 10th month in March, but at a ...
i-80 Gold fell by over 11% at market open Tuesday following its announcement of a C$100 million ($74m) public offering ...
No comments have been posted yet ...