- Gold explorer West Wits Mining (WWI) has announced its Witwatersand Basin Project (WBP) has been given initial environmental approval by officials
- The WBP is comprised of two historic mining centres, dating back to the 1800s, and is located southwest of Johannesburg
- West Wits will now wait for any appeals to its environmental approval, before the authorisation will be official and a possible mining right granted
- Meanwhile, the company also successfully completed a placement and share purchase plan, to raise $800,000 for the project
- West Wits’ shares are trading at 1.5 cents each, up 20.8 per cent
Gold explorer West Wits Mining (WWI) today announced its Witwatersand Basin Project (WBP) had received preliminary environmental authorisation from South Africa’s Department of Mineral Resources.
Following the Department’s intention to approve notification, West Wits must notify interested and affected parties, as the parties have 20 days to lodge appeals.
If there are no appeals, the Department will then proceed with making a recommendation on the granting of the mining right to West Wits.
West Wits Managing Director, Jac van Heerden, welcomed the initial environmental approval news.
“The DMR’s notification on West Wits EA approval is a positive step towards the granting of the mining right over WBP,” he said.
“The West Wits team will continue their engagement with the DMR to expedite the mining right approval,” he added.
The company has also recently been bolstered by a successful round of capital raising, which included a placement and share purchase plan.
Altogether, West Wits raised $800,000, with the capital to be primarily spent on mining licences and scoping studies at the WBP.
The company’s shares are now trading up 20.8 per cent, at 1.5 cents per share.