Santana Minerals Limited (ASX:SMI, NZX:SMI) has been granted a crucial mining permit for its Bendigo-Ophir Gold Project (BOGP) in Central Otago, New Zealand. Santana Minerals is focused on developing its gold and mineral resources. The permit was issued by New Zealand Petroleum & Minerals (NZPAM), a division of the Ministry of Business, Innovation & Employment.
The mining permit, authorised under the Crown Minerals Act 1991, is a key requirement for commencing construction. The other necessary approval, concerning environmental and land-use factors under the Fast-track Approvals Act (FTA), is currently under assessment. The grant of the Mineral Mining Permit (MMP 61326) follows a thorough review of Santana’s technical and economic documentation by NZPAM.
The 25-year permit grants Santana, through its subsidiary Matakanui Gold Ltd, full legal rights to extract and process gold from the Rise & Shine (RAS) deposit and adjacent deposits within the BOGP area. This positions the project to move into construction once FTA consent is secured. Matakanui Gold will be required to pay a royalty to the Crown, set at the higher of 2% net smelter return or 10% of accounting profits.
CEO Damian Spring hailed the permit as a landmark achievement and a vote of confidence in the project’s quality. He noted the project’s potential to deliver long-term benefits to Central Otago through job creation, training opportunities, and economic returns to the Crown and local community. The BOGP, listed in Schedule 2 of the Fast-Track Approvals Act 2024, remains on track to receive its environmental and development consents through the FTA process by mid-2026, with first gold production anticipated 15 months after construction begins.
