Osino receives environmental approval for Namibian gold project

Highlights:

• The ECC is subject to the relocation of historical graves which are located within the Twin Hills project area. A process is underway to secure the necessary consent to conclude this to the satisfaction of Namibia’s National Heritage Council (NHC).
• The issuance of the ECC thus concludes one of three significant outstanding conditions for the conclusions of a full mining license (ML) for the Twin Hills gold project, to be issued by Namibia’s Ministry of Mines & Energy (MME).
• The other conditions to the issuance of a full, unconditional ML are the implementation of a 5% noncarried minority interest for local shareholders and achievement of customary affirmative action quotas (20% of management) and the submission of a strategy for adherence to the Namibian government’s poverty alleviation and socio-economic upliftment strategy of especially disadvantaged population groups.
• Granting of the ECC thus substantially de-risks Osino’s permitting timeline and confirms Namibian regulatory support for the rapid advancement of Osino’s Twin Hills gold project into the development phase.
• Applications to obtain the necessary secondary permits have commenced with the aim of concluding all permitting, initiating early works and commencing with construction during 2H23.

Heye Daun, Osino’s co-founder, President and CEO commented:

‘’We are very pleased to have received environmental authorisation for full-scale mining for our Twin Hills gold project. We recognise that there are still a few outstanding approvals and consents to be achieved (such as the grave relocation, conclusion of the site-specific secondary permits, and the additional conditions to the mining license explained below). Nevertheless, this milestone takes us one step closer to being fully permitted. This again confirms Namibia as one of the world’s top mining jurisdictions, where it is possible to permit and advance a large-scale open pit gold mining project, according to global best practices, from inception to approval within less than three years. We commend our Namibian regulators and service providers for this remarkable achievement.”

Read the article online at: https://www.globalminingreview.com/mining/31012023/osino-receives-environmental-approval-for-namibian-gold-project/