Friday 9th December 2022 Font size:

Theta granted the first of two water licences

Wednesday, November 2nd, 2022

Junior Theta Gold Mines has been granted the first of two water use licences for its TGME Underground gold mine, from the South African Department of Water and Sanitation.

The new Greater TGME integrated water use licence is valid for a period of 12 years, and forms an integral part of the underground project, since it authorises all current water use activities within the mining area.

“The full approvals now granted for the Frankfort mine marks another key step forward for the development of TGME gold project,” said Theta Gold chairperson Bill Guy.

“Bulk sampling work shall commence on Frankfort mine in the coming weeks with the aim to optimise mining and to maximise ore recovery. The full approval of the Frankfort mine displays full recognition from all related government departments of Theta’s effort to becoming a responsible miner in the region,” said Guy.

A definitive feasibility study earlier this year estimated that the TGME Underground mine would require a capital investment of A$232-million to bring the project into production. The first phase of the project development is based on the initial development of four mines, and has estimated an initial life-of-mine plan of nearly 13 years, at a processing rate of 540 000 t/y.

Once up to seven mines are brought into production, including Vaalhoek, Desire and Glynn’s Mines, an annual production of 160 000 oz/y could be achievable.

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