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Tietto Minerals secures key environmental approval for 3.2-million-ounce Abujar Gold Project

The company expects to secure two remaining major government approvals required for the Abujar Gold Project early in the first half of 2021.

Tietto Minerals Ltd - Tietto Minerals secures environmental approval for the Abujar Gold Project
The Abujar PFS is on track for delivery in quarter one CY2021

Tietto Minerals Ltd (ASX:TIE) has received Côte d’Ivoire Ministry of Environment and Sustainable Development approval for the environmental and social impact assessment (ESIA) for its 3.02-million-ounce Abujar Gold Project.

The ESIA is associated with the Exploitation (Mining) Permit application which covers an area of 120.36 square kilometres.

Tietto expects to secure two remaining major government approvals required for the Abujar project early in the first half of 2021, including the grant of the Exploitation (Mining) Permit and completion of Mining Convention negotiation process.

“Milestone approval”

Tietto managing director Dr Caigen Wang said: “This milestone of ESIA approval moves our 3.02 million-ounce Abujar Gold Project into the final stages of the permitting process.

“I would like to acknowledge the Government of Côte d’Ivoire and their officers for the support shown to our team and local communities.

“We also wish to thank the ESIA study teams led by EnviTech for their professionalism and work ethic in completing the program during the COVID‐19 pandemic.”

Plan view showing the location of Tietto’s projects. 

PFS on track for Q1

The company is well-funded to deliver project milestones with more than A$60 million cash and the board has approved US$2.5 million expenditure to undertake early site works at the project, including site access upgrade, camp improvement and the purchase of long-lead items in anticipation of these final approvals and completion of the Abujar PFS.

Dr Wang said: “We are on track to secure our goal of developing Abujar into West Africa’s next gold mine, and to that end, we have approved expenditure to advance local site works and secure long‐lead items in anticipation of the final approvals which are expected early next year.”

“Our PFS for Abujar is the next milestone in this process and that remains on track for delivery in quarter one 2021.”

Quick facts: Tietto Minerals Ltd

Price: 0.36 AUD

ASX:TIE
Market: ASX
Market Cap: $162.65 m
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