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Santana Minerals Ltd. ( (AU:SMI) ) has issued an update.
New Zealand’s Overseas Investment Office has approved Santana Minerals’ purchase of 3,769 hectares of freehold land across Bendigo and Ardgour Stations for the Bendigo-Ophir Gold Project, securing sites for open pits, processing facilities and an engineered landform. The land package also includes substantial areas for ecological offsetting, predator-proof sanctuaries and landscape enhancement, underpinning the company’s plans for environmentally managed gold mining.
The consent follows extensive regulatory scrutiny and is expected to enable more than NZ$500 million in capital investment, about 350 full-time equivalent jobs and increased export earnings over the mine’s 13–14-year life. Conditions require settlement by late 2026, securing resource consents by 2035, and significant capital spending within five years of consent, and with a 30-year mining permit already granted, the decision provides long-term certainty for project development and signals continued openness to foreign investment in New Zealand’s minerals industry.
More about Santana Minerals Ltd.
Santana Minerals Ltd is an Australian-listed gold exploration and development company focused on advancing the Bendigo-Ophir Gold Project in New Zealand. Through its wholly owned local subsidiary, Matakanui Land Ltd, the company is developing open-pit mining operations and associated infrastructure, targeting long-term gold production and contributing to New Zealand’s minerals sector.
See more insights into SMI stock on TipRanks’ Stock Analysis page.