23 March 2016
Kimberley Granite Quarries is pleased to announce that the Department of Mines and Petroleum has granted the company’s Exploration Licence Application E04/2356 applied for in June 2014. The new area abuts the company’s mining tenement M04/450 and contains a similar granite formation that KGQ currently has approval for extraction of material from.
KGQ intends to evaluate the new exploration area over the coming years to identify an appropriate granite resource. The long term goal of the company will be to develop the area under the same guidelines as company current has for its adjacent approved quarrying area. There will be a number of milestones that need to be met for this to be achieved, which include but are not limited to, customer demand for the product, and full approval from all government and other parties. It is anticipated that the approvals process will be a lengthy process for E04/2356 but in conjunction with the company’s current asset base KGQ believes that E04/2356 is part of the long term strategy for the company in the area.