Hanking Gold (03788) announced that its wholly-owned subsidiary, Primary Gold Pty Ltd, has received a site clearing permit for the Mt Bundy gold project's processing plant from the Northern Territory Government's Department of Lands, Planning and Environment, along with an authorization notice for the commencement of mining operations from the Department of Mining and Energy.
These permits and authorizations were granted under the Environmental Protection Act 2019 and Section 79A (1) of the Mineral Rights Act 2010, subject to conditions set out in DML1209-01.
According to the JORC Code (2012 edition), the Mt Bundy gold project currently holds 3.47 million ounces of gold resources and 1.88 million ounces of gold reserves. All gold resources and reserves are located within the existing mining license area.
The company obtained environmental approval for underground mining in 2020, and secured environmental approvals for the open pit mine, processing plant, and supporting facilities in 2023.
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Dr. Yumin Qiu, Executive Director, CEO and President of the company, commented on the site clearing permit and mining authorization: "The timely granting of the above permits by the relevant departments of the Northern Territory Government allows us to commence construction of the Mt Bundy gold project processing plant, including the ore stockpile area. We sincerely thank our technical team and various Northern Territory Government departments, especially the Department of Lands, Planning and Environment and the Department of Mining and Energy, for their extensive efforts. Following receipt of the approvals, we have immediately commenced site clearing operations. While preparing mining tender documents, we have issued invitations to qualified mining tenderers. The company plans to begin construction of the processing plant in the third quarter of 2026 and start gold production in the first quarter of 2028."
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