Galantas Gold Corporation (AIM:GAL), the AIM and TSX-V listed gold developer, said Chile's National Geology and Mining Service (SERNAGEOMIN) has approved the restart of its Andacollo Gold project in the Coquimbo Region.
The approvals cover the previously authorised mine design, waste-disposal configuration, heap-leach facilities and safety conditions, with the operating period running four years from the start of mineral extraction or until remaining authorised tonnage is reached.
The Tres Perlas open pit retains approximately 11.3 million tonnes under the authorised mining plan, while waste-rock facilities hold 17.7 million tonnes of capacity, around 53% of the total permitted.
The Phase VI heap-leach expansion retains 3.3 million tonnes of authorised capacity, around 64% of its approved limit, and SERNAGEOMIN noted no signs of instability at the facility.
The project is permitted to crush up to 15,000 tonnes per day, and Galantas has already purchased a replacement three-stage crushing circuit, disclosed in a 13 July release.
"These approvals represent a major milestone for the Project," said Robert Sedgemore, senior vice president of operations, adding the company remains focused on "installation, rehabilitation, commissioning and operational readiness so production can restart safely, responsibly and efficiently."
One approval remains outstanding, covering the leach waste dump under Resolution No. 1242/2015, which Galantas expects to clear in the coming weeks without delaying mining or gold recovery.
The company has made no production decision, with any restart subject to financing, board approval and completion of remaining commissioning work.
Separately, chief operating officer Brendan Morris has resigned to pursue other opportunities, remaining on as a consultant while Galantas searches for his replacement.
News Intelligence what this means for the company
Chile's mining regulator has approved the operational restart of Galantas Gold's Andacollo project under its previously authorised configuration, removing the primary regulatory barrier to production. The approvals cover mine design, waste disposal, heap-leach facilities and safety conditions, with one final approval (leach waste dump under Resolution No. 1242/2015) expected within weeks. This clears the path for the company to move toward commissioning and restart, though any production decision remains subject to financing, board approval and completion of remaining work.
The regulatory approval is a necessary but not sufficient step: Galantas has raised US$100.0 million in May 2026 to fund restart, but the company has made no production decision and restart remains contingent on board approval and commissioning completion. The loss of COO Brendan Morris to other opportunities adds near-term execution risk as the company enters the critical installation and commissioning phase.
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