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Taung Gold receives 30-year mining right for Jeanette gold project

Taung Gold International Ltd. unit Taung Gold Free State (Pty) Ltd. was issued the mining right for the Jeanette gold project in South Africa, it said Dec. 21.

The mining right covers 9,120.9 hectares and is valid for 30 years, starting June 7, 2017. It is renewable for a further 30 years.

A pre-feasibility study announced for the Jeanette project in March outlined an after-tax net present value of US$1.55 billion, at 5% discount rate, and an internal rate of return of 20.3%.