THE BOURSE WHISPERER: Luiri Gold (ASX: LGM) has received official approval of its Environmental Impact Assessment (EIA) and the accompanying Environmental Permit for the proposed open pit and processing plant at the company’s Dunrobin gold deposit in Zambia.
The decision was handed down by the Zambia Environmental Management Agency (ZEMA) following consultation with numerous stakeholders and is valid for a three year period in which project implementation must take place.
This approval and issue of the Environmental Permit is the last major permit required ahead of project development.
“The EIA permit is a significant step towards commencement of development at Dunrobin,” Luiri Gold chairman Melissa Sturgess said in the company’s announcement to the Australian Securities Exchange.
“The company’s commitment to corporate social responsibility (CSR) programs and local job creation was a key element of the EIA approval process and the company looks forward to establishing its initial production capacity to provide the cash flows required to unlock the full potential of its significant mining licence tenement holdings.”