Predictive Discovery Ltd (ASX:PDI) has pre-empted an upcoming media report regarding its mining plans in Guinea with a market announcement.
Currently, the ASX-lister is exploring for gold across two key deposits — the NE Bankan and Bankan Creek targets — at the greenfields Bankan Project, which was discovered in April last year.
However, the yet-to-be-released media report allegedly questions the legality of PDI’s future mining plans, because the deposits sit within a buffer zone of Upper Niger National Park that does not permit mining.
Predictive alleges there are precedents for mining permits in Guinea and maintains it has been operating in the area in line with its valid exploration permits.
Finding mutually satisfactory solution
Speaking to the situation, managing director Paul Roberts said: “Predictive Discovery has always been fully committed to abide by the legislative and regulatory framework applicable in all the jurisdictions it operates in and we are extremely conscious of our responsibilities to our host country and its local communities.
“We have built strong relationships with the Guinean authorities, in particular the Ministry of Mines and Geology as well as the Ministry of Environment, which have been supportive of the Bankan Gold Project since the outset, and we look forward to finding a mutually satisfactory solution that will allow the benefits of our gold discoveries to be realised in many forms by the community and our shareholders.
“We will take an ESG-led approach to all our activities within Guinea and believe that our social and environmental practices are critical to the long-term success of our Bankan Gold Project as they will deliver important and tangible benefits for the local community, while assisting the Government to improve its conservation efforts in the region.”
Forward plan
Both the NE Bankan and Bankan Creek deposits sit within the second buffer zone of the Guinean national park, where multiple-use activities are permitted.
While it’s currently focused on exploration, Predictive maintains it has engaged with the Ministries of Mines and Environment regarding this overlap and any possible solutions.
This would allow the company to produce gold from the Bankan deposits with an emphasis on ensuring the “highest environmental safeguards” are put in place to mitigate the impact of production activities.
In the meantime, Predictive will use its social and environmental studies to inform an environmental impact statement that’s needed before it applies for a mining permit.