Photo by: Bloomberg
JOHANNESBURG (miningweekly.com) – The Shambesai gold project being developed by ASX-listed Manas Resources, has received backing from the Kyrgyz Republic government.
Earlier this week, the Energy and Minerals Parliamentary Committee recommended the immediate development of the Shambesai gold project, and instructed national and local authorities to allow development to continue unhindered, and according to the current schedules.
The development would be subject to Manas meeting government and local community laws and guidelines.
Manas said on Wednesday that since being allotted its land permit in September, the company has been working on a number of key submissions to advance the construction of Shambesai, and in particular the environmental- and social-impact assessments.
These would be submitted shortly, after which Manas would complete a detailed project design.
The company noted that discussions regarding financing for the Shambesai project were also advancing, with a number of banks and institutions in North America and Asia.
The Shambesai project was expected to produce about 227 000 oz of gold over a four-and-a-half year life-of-mine, and production is expected to start in the first quarter of 2014.