Baru Gold Corp. (TSX-V:BARU) said on Thursday it has submitted all required documentation to Indonesian authorities as part of its bid to transition the Sangihe Gold Project from exploration to production.
The Indonesian Ministry of Energy and Mineral Resources (ESDM) had requested additional information before processing Baru Gold’s application for production operations, the company said.
With the submission now complete, the final outstanding requirement is the payment of taxes.
Baru Gold, through its subsidiary PT Tambang Mas Sangihe, said it is working to secure the necessary funding to meet its tax obligations. The company expects to receive approval for production operations once the payment is completed, citing Indonesian law that guarantees the approval through its Contract of Work.
"I am very happy that we are so near to obtaining our upgrade to production operations," said CEO Terry Filbert.
"The payment of taxes is our only remaining requirement before we are granted the approval to begin producing gold.”
The company added that it is already preparing logistics and staff for the transition to production.