Savannah Resources Plc (LON:SAV) has received a number of approvals for the first of its planned copper mine developments in Oman, Mahab 4 and Maquail South.
Ground water analysis for a tailings facility has also been completed and this hydrogeological baseline assessment will bolster the "in principle" approval of its proposed tailings storage facility (TSF), Savannah said.
READ: Savannah Resources steadily moving towards production
The junior is working on two copper licences in Oman, Block 4 and Block 5. Mahab 4 and Maquail South are on Block 5 and scheduled to be the first of its mines in Oman to come into production.
Regulatory approval or "No Objection" letters have been received from five Ministries (out of nine) for the Maqail South Licence, while Mahab 4 has four approvals.
David Archer, Savannah's chief executive, said: "Solid progress continues to be made towards the award of mining licences for each of the initial mine developments, the processing plant and the TSF.
“We are working towards the mining licences being awarded around the year end, with the licence for the TSF targeted to be granted soon thereafter.
WATCH: Savannah back to business in Oman
“In parallel, we have largely completed the economic scoping study for the initial mine developments; this is based on two run-of-mine ore streams being treated at a common, centrally located copper concentration plant with an associated TSF.
“The study has been conceived and undertaken so that it can be converted into a detailed design with relative ease and speed to meet our development timelines of commencing production in H1 2018.
“Furthermore, the proposed plant and TSF have been designed to treat ores from both Maqail South and Mahab 4 but also offer the potential to treat ore from other high-grade copper deposits, located in Oman, adding further potential upside."
Block 5 has a current Indicated and Inferred Mineral Resource of 1.7Mt at 2.2% copper including a high-grade zone of 0.5Mt at 4.5% at Mahab 4.
Shares were down 1.7% to 5.78p in late afternoon trading on Monday.
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