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Arizona-based TriStar Gold expects a slight delay in obtaining the preliminary license (LP) for its Castelo de Sonhos gold project in Brazil’s Pará state.
“Although there is no formal timeframe for this review, TriStar feels that the receipt of the LP in Q1 2024 is now unlikely, and that receipt of the LP will most probably slip into Q2,” the company said in a statement.
On December 12, TriStar received a notification from the Pará state environment department, SEMAS, which is responsible for issuing the license, to clarify certain issues in the process and the company said it responded. The firm recently received a new notification with issues for clarification, which has also been responded to, it added.
“Now we continue to work closely with SEMAS towards the issuance of the LP. These final few issues that are being worked on are not go/no go, rather technical definitions that should not impede the issuance of the LP but are causing small delays which is not unusual in a robust process like this,” said CEO Nick Appleyard.
The company requested the permit for the mine in July 2022. According to a 2021 prefeasibility study, Castelo de Sonhos would produce 121,000oz/y gold over 11 years for capex of US$261mn.
Any new mining operation in Brazil requires environmental licenses at three stages of development, a preliminary environmental license (LP); an installation license, or LI, before the start of construction; and an operational license, LO.
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