en.Wedoany.com Reported - A wholly-owned subsidiary of Hanking Gold International Limited has officially obtained underground mining approval from the Government of Western Australia, under Approval Statement AS-243947. This key permit marks the transition of its Cygnet Gold Mine project from the feasibility study and approval phase into substantive construction and development.
Hanking Gold International Limited is an international mining group focused on precious metals in Australia and ferrous metals in China. Formerly known as "China Hanking Holdings Limited," the company has further clarified its strategic transformation towards gold operations through the name change. The company's core business consists of three main segments: the gold business focuses on the development of precious metal resources in Australia, currently holding over 5.54 million ounces of gold resources and 2.62 million ounces of gold reserves, primarily based on core gold projects such as Mt Bundy and Cygnet in Western Australia; the iron ore business is mainly engaged in the exploration, mining, and beneficiation of high-grade iron ore, with an annual production capacity of 1 million tonnes of iron ore concentrate; and the high-purity iron business has an annual production capacity of 930,000 tonnes.
The Cygnet Gold Mine project is located in Western Australia. The approved underground mining permit covers the construction of new underground portal access, development of the Copperhead stopes, construction of a run-of-mine (ROM) pad, and tailings evaporation ponds, among other core infrastructure. In addition to the underground mining activities at the primary Copperhead asset, the proposed mining of the historic high-grade Golden Pig underground deposit has also been concurrently approved. Related miscellaneous permits for the project are currently in the final approval process.
Meanwhile, Hanking Gold's Mt Bundy Gold Mine project has also commenced road and mine camp construction, indicating an acceleration in gold production timelines. The receipt of this underground mining approval signifies that Hanking Gold's gold mine development in Australia has entered a substantive phase, laying an important foundation for the company's transformation from an exploration enterprise into a gold producer.
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