Business
BARU GOLD Affirms Land Ownership of the Sangihe Island Gold Mine Project Contract of Work and Provides Information on Lawsuit Filed by TMS
(TheNewswire) August 25, 2022 – TheNewswire - Baru Gold Corp. (TSXV:BA...
About this update from Baru Gold Corp
[{"type":"text","content":"BARU GOLD Affirms Land Ownership of the Sangihe Island Gold Mine Project Contract of Work and Provides Information on Lawsuit Filed by TMS\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n August 25, 2022 – TheNewswire -\n \n \n Baru Gold Corp.\n \n \n (TSXV:BARU) (OTC:BARUF)\n \n \n (“\n \n \n Baru\n \n \n ” or the “\n \n \n Company\n \n \n ”) wishes to affirm its ownership\nrights of the Sangihe Gold Project in response to recent media reports\nof the Indonesian government revoking mining permits in the country\nand provides information on a lawsuit recently filed in Indonesia by\nthe Company’s subsidiary PT Tambang Mas Sangihe (“TMS”).\n \n \n \n \n Ownership Rights of TMS\n \n \n \n \n Indonesia’s Investment Minister Bahlil Lahadalia\nrecently announced the Investment Ministry (the “Ministry”) had\nrevoked 2,065 permits covering more than 3.1 million hectares (7.66\nmillion acres) of land across the country to tighten the sector’s\ngovernance and land redistribution. This follows Indonesian President\nJoko Widodo’s decree in January 2022 ordering thousands of mining,\nplantation and forest-use permits be revoked due to non-compliance or\ninactivity. The action being taken by the Ministry has no impact on\nBaru or its operations.\n \n \n \n \n Baru’s permits and licences have not been revoked and\nremain valid. Baru is compliant in all respects, with the AMDAL\n(environmental) assessment and Indonesian feasibility study. Most\nrecently, the Company secured its operation and export licence for the\nmine site.\n \n \n \n \n The Company continues to conduct its daily activities\nat the site and on the island. The Company continues to generate jobs,\nhiring locals to fill these positions. Construction is underway on the\nheap leach pad and a drilling program has been planned. The Company\ndoes not anticipate its permits or licences will be affected by the\nMinistry’s mandate.\n \n \n \n \n Concerned stakeholders and investors are invited to\ncontact the Company directly at\n \n \n \n \n [email protected]\n \n \n \n \n or\n \n \n \n \n [email protected]\n \n \n \n \n for accurate information regarding the Sangihe Gold Project.\n \n \n \n \n Lawsuit Filed by TMS\n \n \n \n \n The Company also wi...