St Barbara (ASX:SBM) said Papua New Guinea's Mining Advisory Committee (MAC) reviewed its early renewal application for Simberi Mining Lease 136 and will issue a recommendation at the next meeting this month or via a circular resolution, according to a Thursday Australian bourse filing.
The company said the final approval rests with the Minister for Mining, Rainbo Paita, who is overseas until the end of July, making August the earliest for a formal decision.
If approved, the lease will be extended to 2038, aligning with the life of the Simberi Expansion Project based on current Ore Reserves, the filing added.
The MAC requested additional information, which the company provided on July 15.
The company's shares fell 1% in recent Thursday trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.