Terramin Australia Limited (ASX: TZN) has been issued a mining permit from the Algerian mining regulator for its Tala Hamza zinc project, representing a major project milestone for the company.
Terramin’s executive chairman Mr. Bruce Sheng said: “Terramin is exceptionally delighted to have received the Mining Permit for Tala Hamza. The mining permit is the most critical factor in any new project development and is the most important achievement towards project implementation.
The issue of the mining permit means that Tala Hamza has satisfied all Algerian regulatory, financial, and environmental requirements and that it can now proceed towards development.
In collaboration with the company’s Algerian partners, this mining permit will allow for the mining and processing of 2.0Mtpa of ore instead of the 1.3Mtpa anticipated in the 2018 Tala Hamza definitive feasibility study, indicating that project returns will be enhanced over the anticipated 20+ year mine life.
The mining permit encompasses all the area of land required for operation of the mine including mining, processing, haul roads, ore stockpiles, tailings dams, concentrate handling, and maintenance and administration.
“Having this mining permit finalized and issued by the Algerian mining regulator, has been an enormous accomplishment for the entire team at Terramin including our board, management, and all staff who have been associated with this major world class project. I would like to personally thank all those involved. On behalf of the Terramin board and management team we would like to thank the Algerian regulators for their cooperation and support throughout this entire process and our Algerian partners for the solid business relationship we have developed and their continued willingness of working closely with us to achieve this incredible milestone.” Mr. Bruce added.
Tala Hamza is located on the Mediterranean coast of Algeria approximately 15km from the port city of Bejaia.
Bejaia has a deep-water port facility and an international airport. The project is close to major rail, road, and energy infrastructure. Tala Hamza is a world class ore body, and with the issue of this mining permit and Tala Hamza now proceeding towards development, it will become one of the largest developing zinc and lead deposits in the world.
To find out more, please visit www.terramin.com.au
