Genmin, an Australian Securities Exchange (ASX)-listed mining company, has obtained a 20-year mining permit for its wholly owned Baniaka iron ore project in Gabon, West Central Africa.
The permit was granted through a Presidential Decree signed by Gabon’s president, Général Brice Clotaire Oligui Nguema.
After securing the mining permit, the company’s immediate goals are to complete a planned capital raise to supply general working capital.
It is also focused on getting its shares back on the ASX.
Furthermore, within the next two quarters, it aims to move forward and conclude negotiations with possible project-build financiers.
Located in the south-eastern part of the country, the Baniaka project encompasses the Baniaka and Baniaka West exploration licences, covering a total area of 881km².
