TriStar Gold secures preliminary license for Brazil project

Arizona-based TriStar Gold obtained the preliminary license (LP) for its Castelo de Sonhos gold project in Brazil's Pará state.

The license was issued by the state’s environment and sustainability department (SEMAS), and it represents the first of a three-stage environmental licensing process required for mining projects in Brazil.

Detailing the environmental, social, and economic impacts and benefits of the project, the LP is the most important stage since it involves input and approval from several agencies as well as local stakeholders and communities.

“Following the previously announced approval by Pará state environmental council (COEMA) we have now received the LP, a true milestone for TriStar that derisks and sets us apart from many other mine developers," said Nick Appleyard, TriStar’s president and CEO, in a statement.

"We are now ready to move forward, having the necessary permits in hand to advance the feasibility study, including the operating license for drilling and vegetation clearing authorization amongst others," Appleyard added.

The project’s next steps involve “further de-risking studies including feasibility and advanced engineering, leading to an ultimate construction development decision,” the company said.

According to a 2021 prefeasibility study, Castelo de Sonhos would produce 121,000oz/y over 11 years, with capex of US$261 million.