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Kobaba gets environmental nod

TSX-listed African Gold Group (AGG) announced this week that the Ministry of Environmental and Sustainable Development of the Republic of Mali has approved the Environmental and Social Impact Assessment (ESIA) for its Kobada gold project and issued an updated Environmental Permit.

Kobada in southern Mali, which is in an advanced stage of development is targeting gold production of 100 000 oz per annum with a mine life of 16 years.

The ESIA marks a key milestone in the permitting process and is the culmination of extensive consultations and stakeholder engagement. “The approval of the ESIA and issuance of the Environmental Permit is a major achievement for our Company and brings us to the final stages of the permitting process for Kobada,” commented Danny Callow, CEO. “We would like to thank the government of Mali and its permitting bodies as well as our surrounding communities for the strong support they have demonstrated for the project.”

Read:  Kobada has the makings of a world class resource

Steadily progressing towards production
The company recently announced the results of the Definitive Feasibility Study (DFS) for Kobada which shows that it has the potential to produce over 1.2 Moz of gold over a 16 year mine life while delivering solid economics with post-tax NPV5% of US$355 million and an IRR of 38%.

AGG last’s milestone at the Kobada is the receipt of the environmental permit addendum for the sulphide portion of the project. The company is continuing to advance the project towards construction and receipt of the updated environmental permit is one of the last crucial steps in that process.

Gerard Peter
Gerard Peter is a content creator and media strategist with more than 23 years' experience in new and traditional media.