G Mining Ventures (TSX:GMIN) has received the operational licenses for its 100% owned Tocantinzinho (TZ) Gold Project in Pará, Brazil, the last remaining permitting milestone for commercial operation.
The project remains on time and budget for commercial production in H2 2024.
CEO Louis-Pierre Gignac says this final step in the regulatory approval process for TZ “is a testament to Brazil’s mining-friendly business environment, its well-structured permitting process and our team’s commitment to excellence in everything we do”.
“I am thrilled by the achievement of this major milestone and continue to be excited as I witness the steady progress being made in commissioning the plant allowing us to achieve commercial production in the very near-term,” Gignac says.
The licenses for Tocantinzinho were received from the Pará State Environmental Agency, Secretaria de Estado de Meio Ambiente e Sustentabilidade (SEMAS), and include the operating licence for mining, processing plant, tailings facilities and the new airstrip.
Receipt of these licenses marks the completion of all project construction activities and authorises the mine to commence operations at full capacity.
G Mining is currently anchored by the Tocantinzinho Gold Project in Brazil and Oko West Project in Guyana, both mining-friendly and prospective jurisdictions.
Upcoming key milestones for G Mining Ventures include undertaking the Oko West Project’s Preliminary Economic Assessment in Q3 2024, the release of exploration results from both TZ and Oko West in Q4, and commercial production at TZ in H2 2024.
G Mining is engaged in the acquisition, exploration, and development of precious metal projects to capitalise on the value uplift from successful mine development.
The company is well-positioned to grow into the next mid-tier precious metals producer by leveraging strong access to capital and proven development expertise.
Write to Adam Orlando at Mining.com.au
Images: G Mining
