First Tin (LSE:1SN) told investors it has received the draft conditions of consent for the Taronga Tin Project's Development Application from the New South Wales Department of Planning, Housing and Infrastructure, marking the final step before formal approval.
The tin development company, which is advancing low-capex projects in Australia and Germany through its wholly owned subsidiary Taronga Mines Pty, said the milestone concludes the substantive assessment of the project's application as a State Significant Development in New South Wales.
Formal determination of the Development Approval is now expected in November, which would clear the way for Taronga to progress towards construction, subject to financing, a final investment decision and remaining project requirements.
The project's permitting process began in August 2024 with the submission of a Scoping Report, followed by an Environmental Impact Statement submitted in September 2025 that triggered a four-week public exhibition period in which only four objections were lodged, a level First Tin calls one of the lowest seen for a greenfield metalliferous mining project of this type in New South Wales in recent years.
Because fewer than 50 objections were received, the project avoided referral to the Independent Planning Commission and instead proceeded through the standard departmental assessment route.
First Tin lodged a Response to Submissions report in May, addressing feedback from government departments on biodiversity, air quality, groundwater management and cultural heritage, after which consultation coordinated by the DPHI led to completion of the departmental assessment and the draft conditions now issued.
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Those draft conditions are under review by Taronga Mines and its environmental consultants, RW Corkery, ahead of formal recommendation and determination.
"Final development approval would represent a significant further de-risking of Taronga and an important step towards securing project financing and advancing the project towards construction," said chief executive Bill Scotting.
The approval milestone follows an updated definitive feasibility study released in August that lifted Taronga's combined post-tax net present value to A$246 million at a long-term tin price of US$40,000 per tonne, up from A$98 million in the 2024 study, with management citing financing and offtake discussions as well advanced ahead of the construction decision.