Hanking Gold International Limited (HKEx: 03788), referred to as "Hanking Gold" or "the Company," has announced it has obtained the site clearing permit for the processing plant area of the Mt Bundy Gold Project from the Northern Territory Government's Department of Land, Planning and Environment, as well as an authorization notice for conducting mining operations from the Department of Mining and Energy.
The Company had previously received environmental approvals for underground mining in 2020, and for the open pit mine, processing plant, and supporting facilities in 2023. Within the existing mining license area, the Mt Bundy Gold Project hosts a gold resource of 3.47 million ounces at an average grade of 0.68 grams per tonne, and gold reserves of 1.88 million ounces at an average grade of 0.76 grams per tonne.
Dr. Yumin Qiu, Executive Director, CEO, and President of the Company, stated: "The timely issuance of these permits by the relevant Northern Territory government departments allows us to commence construction of the processing plant at the Mt Bundy Gold Project, including the ore stockpile area. We sincerely thank our technical team and the various departments of the Northern Territory Government, especially the Department of Land, Planning and Environment and the Department of Mining and Energy, for their significant efforts. Following receipt of the permits, we have immediately initiated site clearing operations. While preparing the mining tender documents, we have also issued invitations to qualified mining contractors. The Company plans to begin construction of the processing plant in the third quarter of 2026, with first gold production targeted for the first quarter of 2028."
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