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Bluebird receives development permit for Kochang gold project in South Korea

South Korea's South Gyeongsang Provincial Authority granted Bluebird Merchant Ventures Ltd. the permit to develop and operate the Kochang gold project for 13 years.

The only constraint is the requirement to achieve production within three years, the company said Dec. 17.

The permit may be extended by 20 years by applying 18 months prior to the end of the permit term.

The company noted that there are no government royalties in South Korea.

The Kochang and Gubong gold projects are 50/50 joint ventures with Southern Gold Ltd.

Bluebird reported receiving a development permit for Gubong in September, saying that the permission was the first one issued by South Korea for a gold project since the 1990s.