Mining Advisory Committee Recommends Simberi ML Extension
| Stock | ST Barbara Ltd (SBM.ASX) |
|---|---|
| Release Time | 19 Aug 2025, 8:12 a.m. |
| Price Sensitive | Yes |
Mining Advisory Committee Recommends Simberi ML Extension
- Papua New Guinea Mining Advisory Committee recommends extension of Simberi Mining Lease 136 until 2038
- Extension aligns with current Simberi Expansion Project mine life based on Proven and Probable Ore Reserves
- Renewal of Simberi Mining Lease is a key step towards unlocking Sulphide Ore Reserves and expanding gold production
St Barbara Limited (ASX: SBM) has announced that the Papua New Guinea Mining Advisory Committee (MAC) has resolved to recommend to the Minister of Mining the grant of an extension of the Simberi Mining Lease 136 (Simberi ML) until 2038. The MAC is now preparing the extension documentation, together with the recommendation and briefing materials, to be provided to the Minister of Mining for his review and signature. While Special Mining Leases require approval of the National Executive Council, the Simberi ML only requires approval from the Minister of Mining. The grant of the extension of the Simberi ML until 2038 is in line with the current Simberi Expansion Project mine life based on Proven and Probable Ore Reserves. St Barbara's Managing Director and CEO, Andrew Strelein, expressed the company's sincere thanks to the Managing Director of the Mineral Resources Authority and his team for progressing the application with the Mining Advisory Committee, as well as to the Committee for its resolution to recommend the grant of an extension of the Simberi Mining Lease. Strelein stated that the renewal of the Simberi Mining Lease is a key step towards unlocking the Sulphide Ore Reserves at Simberi and expanding gold production to over 200,000 ounces per annum.
The renewal of the Simberi Mining Lease is a key step towards unlocking the Sulphide Ore Reserves at Simberi and expanding gold production to over 200,000 ounces per annum.