West African focused gold developer Cora Gold has appointed international environmental consultants Digby Wells Environmental to undertake the environmental and social impact assessment for its Sanankoro gold project in the Yanfolila Gold Belt of Southern Mali.
Cora Gold continues to advance Sanankoro, which has a positive scoping study completed on it with an 84% IRR at a US$1 400 gold price.
Cora Gold is initially focused on resource growth and then, if successful, the delivery of the definitive feasibility study (DFS) before the end of 2021.
Due to this accelerated strategy for moving Sanankoro forward, the company has appointed Digby Wells to conduct an environmental and social impact assessment (ESIA) in accordance with the International Finance Corporation Performance Standards for the project. The collection of baseline data for the ESIA has already commenced.
Deliverables will include specialist studies, ranging from ecological, water and social studies, a conceptual closure and rehabilitation plan, a stakeholder engagement process, a resettlement policy framework and a community development plan.
Cora Gold previously worked with Digby Wells to complete an initial environmental and social screening study in 2019 as part of the project’s scoping study. This scoping study showed Sanankoro’s potential to be a highly profitable standalone oxide mine, delivering a high IRR and short capex payback period.
“As one of the largest environmental consulting firms in Africa focused on the resources sector, with extensive in-house expertise in the environmental and social field, we are delighted to be working with the Digby Wells team again,” says Cora Gold CEO Bert Monro.
“The ESIA is critical to the success of the DFS, which we are focused on completing before the end of next year, following further exploration in 2020, and, as we look further ahead to transitioning from explorer to developer, will support our future exploitation permit application. Monroe adds.
Prior to the expiration of the Sanankoro exploration permit on 1 February 2020, the company submitted an application for the award of a new permit over the area covered by the Sanankoro permit.
The company looks forward to announcing the award of a new permit in due course once the necessary process set out in the Mining Code has occurred.
The Sanankoro permit was one of five permits that together comprise the Sanankoro gold project area, these include Bokoro (permit expires August 2022), Bokoro Est (permit expires September 2026), Dako II (permit expires December 2025) and Kodiou (permit expires May 2022).