By: Creamer media

Australia- and UK-listed Resolute said on Thursday that it was seeking clarification from the Guinean government following reports aired on local television this week about the potential cancellation of a significant number of exploration permits. While the company has not received formal notification, it confirmed that the permits in question reportedly include its Niagassola, Doko, and Siguiri-Kouroussa tenements.

These three permits form the Mansala prospect, which boasts an initial inferred mineral resource of 8.4-million tonnes at 1.3 g/t for 357 000 oz of contained gold.

The uncertainty over permit renewals comes just weeks after Resolute agreed to transfer ownership of these assets to AngloGold Ashanti as part of a broader deal between the two gold miners. That transaction, which was announced on May 1, saw AngloGold offload its Côte d’Ivoire-based Doropo and ABC projects to Resolute for $175-million, while simultaneously agreeing to acquire Toro Gold Guinée, the holder of the Mansala permits, from Resolute.

The Mansala permits are near AngloGold’s existing Siguiri operations and are seen as a future brownfield ore source for the mine. 

However, the transaction is subject to several conditions, including the renewal of the exploration permits by the Guinean authorities. If those conditions are not met within 18 months, the deal will lapse.

Guinea’s military-led government, which seized power in a 2021 coup, has been pressing mining companies to comply with the terms of their mining rights. Authorities are targeting permits that show limited progress, particularly in the gold and bauxite sectors.

Earlier this week, ASX-listed Predictive Discovery said it had become aware that its Argo and Bokoro exploration permits were among those cancelled by the government. It is understood that London- and Toronto-listed Endeavour Mining has also lost four exploration licences.

Equatorial Resources has also been impacted, with two of its key iron-ore tenements – Nimba West and Nimba North – cited in local media as among those cancelled. The company said it had not been officially notified and was seeking clarification.