An Australian gold producer, with ambitious plans to become the only ASX-listed gold producer with operations in both Pilbara and Witwatersrand Basin, has moved one step closer as it receives positive news regarding a mining rights application.
West Wits Mining Limited has announced this week that the South African mining regulator has officially accepted the company’s mining rights application for the Witwatersrand Basin Project (WBP).
The news comes as a huge milestone in the company’s bid to become a junior gold miner in South Africa. The regulator has officially stated that a final decision will be reached for the mining right within 300 days.
“The Board’s strategic intent to transform WWI into a junior miner with successful operations in the Witwatersrand Basin and Pilbara region is now well underway,” said the company in a statement. “Once regulatory approval is secured, then it opens up options to have concurrent mining operations at several locations across the WBP, enabling the production platform to be rapidly scaled.”
The Witwatersrand Basin Project (WBP) comprises two historic mining centres known as the Durban Roodepoort Deep and the Rand Leases on the Northern Edge of the Witwatersrand Basin in the Central Rand Goldfield immediately southwest of the city of Johannesburg.
West Wits Mining is developing a mine plan demonstrating the WBP can produce 100,000 ounces per annum over a 10 year mine life from surface and underground targets.