PERTH (miningweekly.com) – Junior gold developer Gryphon Minerals has received the environmental permit for its Banfora gold project, in Burkina Faso.
The ASX-listed company said on Tuesday that the milestone was the penultimate step in becoming fully permitted, allowing the flagship Banfora gold project to be developed.
The final permitting stage was well advanced, and Gryphon told shareholders that it expected to be granted a mining licence from the Burkina Faso Ministry of Mines well before the end of the first quarter this year.
“The granting of our environmental permit for the Banfora gold project is a major achievement for the company and signifies full endorsement from the Burkina Faso authorities for our environmental and social strategy,” said MD Stephen Parsons.
He noted that the company remained on track to deliver a de-risked and re-optimised gold project that would demonstrate economic robustness in a lower gold price environment, with significantly reduced capital cost scenarios.
The developer was working to optimise the costs of its $208-million flagship project, which was expected to produce 150 000 oz/y of gold at full production. First production was targeted for early 2015.