Paramount obtains key permits for Gunung Rosa project
Thursday, April 17 2014 - 02:24 AM WIB
ASX-listed Paramount Mining Corporation Limited announced Thursday that key permits have been received from the local administration mining office for the Gunung Rosa high-grade gold-silver-base metals project in West Java Province, to commence the acquisition of surface rights and infrastructure construction.
The four key permits include location permit, principal permit, disturbance permit and construction permit, the company said in a statement.
As well as allowing the various development activities to commence, these permits also allow the company?s subsidiaries to finalize the application for the ongoing environmental impact assessment/EIA (or AMDAL) process approval.
The company?s Chairman, Mo Munshi, said: ?This is a major achievement for our company and we can now proceed with our ongoing development programs. These permits allow us to complete our EIA/AMDAL update within the next few weeks, update our JORC Resource and commence mine rehabilitation, engineering studies as well as construction in the second half of 2014.?
Editing by Reiner Simanjuntak