India Ends 3% IGST Exemption on Gold, Silver, Platinum Imports, Boosting Importers' Financing Needs

[SMM GOold Flash] Galiano Gold announced on 8 October that it had secured extensions of two mining leases at the operating Asanko Gold Mine in Ghana. The Abirem lease was extended for 15 years through 2041 and the Miradani lease for 17 years through 2043. Together they cover the Nkran, Adubiaso and Miradani North deposits, the 5.8-million-tonne-a-year processing plant, associated infrastructure and Nkran Cut 3. The completed lease extensions reduce tenure uncertainty around infrastructure and deposits central to Asanko’s current long-term plan. They do not themselves increase gold reserves, production or mine life, however. Galiano said the approvals provide a basis for continued investment and potential reserve growth; any additional ounces or operating years would still need supporting drilling, technical studies and reserve declarations.