Australian mining company Genmin received a 20-year mining permit to build and operate their Baniaka Iron Ore Project in Gabon.

The permit, in combination with the certificate of environmental conformance received in August 2023, gives Genmin regulatory approval to start their project.

The company's next steps will include completing a capital raising to provide working funds and return to trading on the ASX.

It also intends to finalise discussions with potential project build financiers. Genmin anticipates commencing production by the end of the second quarter of 2025.