Aureus Mining said it now had all the major approvals required to build its New Liberty mine in Liberia.
The firm said the country's government had approved its Environmental Impact Statement and granted an environmental permit for the New Liberty Project, which could be Liberia's first commercial gold mine.
Aureus said it would now focus on the financing of the mine, building on "extensive negotiations that have taken place over the past 12 months".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
"As per the feasibility study published on 1st October, the Company has a clearly defined work programme to be carried out before the commencement of construction," said Chief Executive David Reading.
"This includes optimising the plant, conducting metallurgical testing, preparing detailed engineering designs and the diversion of the creek," he said.
"These initiatives will be completed in the near-term."
New Liberty has an estimated reserve of 910,000 ounces of gold grading 3.3 g/t and an eight-and-a-half year mine life.
The project requires the relocation of a whole village but Aureus said local leaders had been highly involved in the planning stages and the company predicted the move would go ahead without difficulties.
High-street banks continue to offer poor savings rates – is your cash better off with a smaller provider?
Despite numerous warnings by the Financial Conduct Authority (FCA), savers are still being ripped off with low returns on high-street bank savings accounts. How much can your cash earn in a small bank?
By Vaishali Varu Published
Nvidia becomes the fourth biggest company in the world - should you invest?
Chipmaker Nvidia is riding the AI wave, and has overtaken Alphabet and Amazon in terms of market capitalisation. Have new investors missed the boat, or will the share price soar higher?
By Ruth Emery Published