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Baru Gold Places Reclamation Bond in Expectation of Starting Production Operations
Thenewswireยท 2025-07-29 14:20
Core Points - Baru Gold Corp. has placed a reclamation bond for the 2025 calendar year for the Sangihe Gold Project, which is a financial guarantee for reclamation and environmental restoration [1][2] - The reclamation bond is a requirement following the approval for Production Operations, allowing for immediate commencement of operations upon formal issuance by the Indonesian Ministry of Energy and Mineral Resources [3] - The CEO of Baru Gold anticipates receiving approval for Production Operations soon, indicating the company's readiness to transition to an active gold producer [4] Company Overview - Baru Gold Corporation is a junior gold developer with NI 43-101 gold resources in Indonesia, a leading gold-producing country [6] - The Sangihe Gold Project covers approximately 25,000 hectares, with only 10% of the gold-bearing area explored to date [4] - The company holds a 70% interest in the Sangihe mineral tenement Contract of Work, with the remaining 30% held by Indonesian corporations [5]