Orezone Gold Moves Closer To Gaining Permits For Bombore Project
Orezone Gold has made further progress at its Bomboré gold project in Burkina Faso, announcing Wednesday that it's submitted a mining permit application to the government there. The application package includes both an environmental and social impact assessment as well as a relocation action plan for local residents that will be affected by the development.
Orezone Gold (TSX:ORE) has made further progress at its Bomboré gold project in Burkina Faso, announcing Wednesday that it's submitted a mining permit application to the government there. The application package includes both an environmental and social impact assessment (ESIA) and a relocation action plan (RAP) for local residents that will be affected by the development. While the decision to submit the application follows the release of a positive feasibility study for Bomboré last month, Orezone's timing for the submission may be cause for some concern. According to Haywood Securities, the four- to eight-month review timeline for the application coincides with an upcoming national election, which could translate into delays in approval. Nevertheless, Orezone doesn't seem concerned. Explaining the process, the company said the "four to eight month permitting process includes public hearings and a complete review by the Ministry of Mines and Energy (MEE) and the Ministry of Environment and Durable Development (MEDD) and the National Mining Commission (NMC), a technical panel. During a weekly cabinet session in parliament the recommendations of the NMC are reviewed and once approved, the permit is a Decree signed by the President of Burkina Faso, the Minister of Economy and Finances, the Minister of MEE and the Minister of MEDD." Orezone expects to have all government permit approvals in hand by the first quarter of 2016, while Haywood anticipates the finalization of project permitting happening a little later, though likely in the first half of 2016. Relocation action plan As mentioned, part of the permit application submitted for Bomboré is a RAP, which Orezone has been working on with a local group of consultants. According to Wednesday's release, an inventory of the assets owned by people who will be affected by the project "has been reviewed and validated by those located in the northern half of the project that will be relocated during the initial phase of development."