G Mining Ventures (GMIN) has secured an operational licence for its fully owned Tocantinzinho Gold Project in Brazil.
The project, situated in the State of Pará, has now received all permissions to begin commercial operations.
According to a company statement, the operating licence from the Pará State Environmental Agency, Secretaria de Estado de Meio Ambiente e Sustentabilidade (SEMAS), includes permissions for mining, processing plant, tailings facilities and the new airstrip.
GMIN president and CEO Louis-Pierre Gignac said: “This final step in the regulatory approval process for TZ is a testament to Brazil’s mining-friendly business environment, its well-structured permitting process and our team’s commitment to excellence in everything we do.
“I am thrilled by the achievement of this major milestone and continue to be excited as I witness the steady progress being made in commissioning the plant allowing us to achieve commercial production in the very near term.”
Tocantinzinho is estimated to host 2.0 million ounces of reserves. The deposit is located underground, and it may also contain satellite mineralised bodies.
The project was acquired by Eldorado Gold in 2010 through the $120m takeover of Brazauro Resources. Subsequently, the company invested more than $90m into the project.
GMIN acquired the property in the fourth quarter of 2021. A definitive feasibility study (DFS) was completed in February 2022.
In July 2024, G Mining Ventures achieved the first gold pour at Tocantinzinho gold project. The first pour at the Brazilian project yielded around 440 ounces of gold.
The project is expected to commence commercial production in the second half of this year.
