Besra Gold receives conditional approval for the renewal of mining lease ML 05/2012/1D in Malaysia’s Bau Gold Project from the Sarawak Government. The renewal guarantees continuity over the Jugan deposit, crucial for the company’s operations. Besra holds a 98.5% interest in the project, historically producing over 3 million ounces of gold.

The Sarawak Government’s decision recognizes Besra’s commitment to technical, environmental, and stakeholder engagement efforts. Besra plans to reduce regulatory and operational risks, ensuring compliance with environmental and market standards. The renewal of the lease decreases project risk, allowing resources to be allocated for systematic assessments across the Bau corridor.

Besra’s non-executive chairman, John Blake, highlights the significance of the lease renewal, emphasizing the reduction of project risk and progress towards commercial development at Bau. Positive engagement with the Sarawak Government is acknowledged, with a focus on ongoing constructive dialogue for remaining renewal applications. Governance and stakeholder engagement measures implemented are delivering positive outcomes.

Read more at Yahoo Finance: Besra secures conditional lease renewal for Jugan deposit in Malaysia