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15:04:52
Wits Gold mining right announcement
WGR
Posted Wed, 22 Feb 2012

Wits Gold announced that the Department of Mineral Resources (DMR) has accepted the company's application for a mining right for gold, silver and uranium over its combined prospecting rights in the southern Free State goldfield. The total area measures 14 965 hectares (149.65km2) and includes the De Bron-Merriespruit (DBM), Bloemhoek, Robijn and Hakkies Project areas. The granting of the mining right is expected over the next twelve months once the company complies with requirements in terms of the Minerals Act, such as obligations in terms of feasibility studies, environmental compliance as well as Social and Labour Plan commitments. The company's DBM Project area, where mining will start at 480 metres below surface, will be the focal point for the first phase of mining activity. A pre-feasibility study is currently being fast-tracked at the DBM Project for completion by May 2012, which will also provide a more detailed timeline for the new mine's development.


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