Australian gold mining and exploration company Kingsgate Consolidated’s Environmental Impact Assessment (EIA) submission for the Nueva Esperanza silver/gold project has been approved by from the Chilean Government.

The approval followed a rigorous process undertaken by the Copiapo environmental regulator (SEA). The EIA includes all environmental and social impacts and is a vital element in the development of the project.

Kingsgate managing director and chief executive officer Gavin Thomas said that the approval of the EIA is a major step for Nueva Esperanza silver and gold project.

"Work is still to be completed on the feasibility study, but we remain confident that the project will continue to advance despite the volatile metal price conditions," Thomas added.

Nueva Esperanza silver/gold project is located in the highly prospective Maricunga gold and silver belt in Chile.