LONDON (ShareCast) - (Sharecast News) - Oriole Resources said on Thursday that it has secured approval for the environmental and social impact assessment for its Bibemi gold project in Cameroon, marking a key step towards obtaining an exploitation licence at the 90%-owned asset.
The AIM-traded firm said the approval, granted by the Ministry of Environment, Nature Protection and Sustainable Development, followed a process that started in 2023 and included public hearings and stakeholder engagement earlier this year.

An initial certificate of compliance was issued in September with minor recommendations, which were incorporated into an updated ESIA submitted in October.

After a 20-day review period, the study was approved under the Cameroon Mining Code with no further amendments.

"The approval of the ESIA for Bibemi is a major achievement as it is a prerequisite for government approval for the exploitation licence," said chief executive Martin Rosser.

"We look forward to the intensification of the ELA process and negotiations in the next few months. In addition, we will soon be providing an update on the preliminary economic assessment and supporting technical studies."

Oriole said the ESIA approval cleared the way for the next stage of discussions on the Exploitation Licence Application, which the company aimed to finalise by the end of the second quarter of 2026.

It said it planned to submit an updated technical report to the Ministry of Mines this month, incorporating an updated JORC resource, mineral processing studies, mine planning work and a preliminary economic assessment to help expedite the licensing process.

Further details of the PEA were expected later this quarter.

At 1539 GMT, shares in Oriole Resources were up 5.91% at 0.25p.

Reporting by Josh White for Sharecast.com.

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