Black Dragon Gold has applied for its Salave Gold Project to be designated a Strategic Investment Project under new regional legislation in Asturias, aiming to fast-track development and boost local economic benefits.
- Application submitted under Asturias’ new Proyectos de Interés Estratégico Regional (PIER) law
- Salave Gold Project meets economic, environmental, and employment criteria
- Appeal filed against local council’s land rezoning rejection
- Final decision on strategic status expected in Q2 2025
- Project promises hundreds of jobs during construction and operation
New Legislation Opens Doors for Salave
Black Dragon Gold (ASX:BDG) has taken a significant step forward in advancing its Salave Gold Project by submitting an application for classification as a Strategic Investment Project under the Principality of Asturias’ recently enacted Proyectos de Interés Estratégico Regional (PIER) law. Introduced in December 2024, this legislation is designed to accelerate projects deemed economically vital to the region by streamlining administrative and planning approvals.
The Salave Gold Project, located in northern Spain, is one of Europe’s largest undeveloped gold deposits, boasting over 1.5 million ounces of high-grade gold resources. Black Dragon Gold asserts that the project satisfies the PIER law’s stringent economic, environmental, and employment criteria, including the creation of hundreds of jobs during both construction and operational phases.
Strategic Investment Status: What It Means
Achieving Strategic Investment Project status could be transformative for Salave, potentially reducing bureaucratic delays that have historically slowed mining developments in the region. Executive Chairman Dominic Roberts emphasised the importance of the new law, stating it "paves the way for important projects, like the Salave Gold Project, to deliver significant economic and employment opportunities to the region." The company is actively engaging with regional agencies as the application undergoes review, with a final decision anticipated in the second quarter of 2025.
Legal Challenges Persist
Parallel to the strategic investment application, Black Dragon Gold is contesting a recent setback involving land rezoning. The Tapia de Casariego Town Council rejected the company’s request to rezone land from agricultural to industrial use, a necessary step for project development. Black Dragon has lodged an appeal with the High Court of Justice of Asturias, arguing that the rezoning application complies with the 2016 Urbanistic Plan and should not be restricted.
This legal challenge underscores the complexities of advancing mining projects within established land use frameworks, even when broader regional policies seek to encourage economic development. The outcome of the appeal will be closely watched, as it could influence project timelines and investor confidence.
Looking Ahead
With the Salave Gold Project’s substantial resource base and the potential for expedited development under the PIER law, Black Dragon Gold is positioning itself to unlock significant value. However, the dual tracks of regulatory approval and legal appeal introduce uncertainties that investors must monitor. The company’s ability to navigate these hurdles will be critical in determining whether Salave can transition from a promising resource to a producing asset that contributes meaningfully to Asturias’ economy.
Bottom Line?
As Black Dragon Gold awaits regulatory and legal outcomes, the Salave Project’s fate could signal a new era for mining development in Asturias.
Questions in the middle?
- Will the Principality of Asturias grant Strategic Investment Project status to Salave as expected?
- How will the High Court rule on the land rezoning appeal, and what impact will this have on project timelines?
- What are the potential economic impacts for the region if Salave advances under the PIER law?