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Southern Gold JV granted permit in South Korea

11th September 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Gold explorer Southern Gold and its joint venture (JV) partner Bluebird Merchant Ventures have been granted a permit to develop the Gubong gold mine, in South Korea.

This is the first permit to develop that has been issued to a foreign operator since Ivanhoe Mines was granted one in the late 1990s for its Eunsan gold deposit.

“This is a very important milestone for the JV and I congratulate Bluebird as operators in securing the permit to develop for Gubong,” said Southern Gold MD Simon Mitchell.

“This approval paves the way for the JV to take the Gubong project forward and target first gold pour in 2020, another very important milestone that is now closer to being achieved.”

Mitchell on Wednesday said that compared with other regulatory systems, such as Australia, this was an extremely rapid approvals process, taking less than one year since the initial submission.

“The South Korean centralized regulatory approach has resulted in an efficient turnaround while retaining a comprehensive review system. This bodes well to other future potential developments that will be in Southern Gold’s pipeline down the track.

Southern Gold holds a 50% interest in the Gubong JV, as well as the Kochang JV, with the miner hoping to commission a small-scale operation at one of these project areas within the next 12 months.

Edited by Creamer Media Reporter

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