Cora Gold Ltd aims to apply for a mining permit for its flagship Sanankoro gold project after the Mali Government partially lifted the suspension on allocation of mining titles.
OPEN PIT
The move is expected to come into effect on 15 March more than two years after its introduction on 28 November 2022.
Cora said that the Government would receive processing for applications to renew exploration permits and exploitation permits, the transition from the exploration phase to the exploitation phase and direct or indirect transfer(s) of operating permits.
The partial lifting of the moratorium does not apply to applications for the issuance of new mining titles or for the transfer of exploration permits.
Located in the Yanfolila gold belt, Sanankoro comprised five contiguous permits of Bokoro II, Bokoro Est, Dako II, Kodiou and Sanankoro II covering approximately 342km2.
In 2023, Cora worked with the authorities on redrawing the permit boundaries, creating a 100km2 area for the mining permit.
The proposed area of the mining permit will now comprise parts of Bokoro II and Kodiou exploration permits, which expired in 2023 during the moratorium, and the Sanankoro II exploration permit.
Cora said it would mainly focus on advancing permitting at Sanankoro to develop an open pit oxide mine.
The project’s revised mineral resource estimate is more than one million ounces, while a revision to the November 2022 definitive feasibility study is expected.
Chief executive officer Bert Monro added that the Government’ decision would be a “catalyst in re-energising the country’s mining industry.”
“As a major contributor to the national economy, mining will continue to be an important driver of Mali’s future prosperity, and we are keen for Sanankoro to be part of this contribution as soon as possible.
“We have had positive engagement with the Government over the last two years during the permit moratorium period and look forward to progressing our permitting process as quickly as possible once this partial lifting has come into effect.”
He added that Cora intended to move into construction of the Sanankoro mine “as quickly as possible”.