Regulatory Conditions Pose Next Challenge for Altamin’s Gorno Project

• Retrospective Environmental Impact Assessment (EIA) approval granted by Italian Ministry
• Approval covers Cime exploration permit within the Gorno polymetallic project
• Favourable opinions from national, regional, and cultural authorities included
• Approval enhances future permitting prospects and supports strategic process led by Argent Partners
• Gorno Project features high-grade Zinc, Silver, and Lead with existing underground infrastructure

Environmental Approval Milestone

Altamin Limited (ASX – AZI) has achieved a significant regulatory milestone with the Italian Ministry of Environment and Energy Security granting a retrospective Environmental Impact Assessment (EIA) approval for the Cime exploration permit at its Gorno Project. This approval, formalised through Decree VA No. 29, reflects a comprehensive evaluation process involving multiple government agencies and local stakeholders, underscoring the project's compliance with stringent environmental standards.

The retrospective nature of the approval indicates that the project’s past activities have been reviewed and deemed environmentally compliant, providing a solid foundation for future exploration and development activities. This is particularly important in Italy and the broader European Union, where mining projects face rigorous environmental scrutiny.

Strategic and Regulatory Implications

Receiving the EIA approval is more than a box-ticking exercise; it materially strengthens Altamin’s regulatory position. It enables Vedra Metals Srl, Altamin’s wholly owned subsidiary, to continue approved activities under the Cime exploration licence and supports future applications for expanded exploration or mining licences. The approval also incorporates favourable opinions from national, regional, and cultural authorities, signalling broad institutional support.

Altamin’s CEO, Geraint Harris, highlighted the extensive consultation and relationship-building that underpinned the approval process. He emphasised the company’s commitment to minimising environmental and community impacts, aligning with evolving Italian and EU policies that prioritise sustainable domestic sources of critical raw materials.

The Gorno Project’s Potential

The Gorno Project is a polymetallic brownfield site with a rich history of producing clean Zinc, Silver, and Lead concentrates. Its existing underground infrastructure offers a de-risked pathway to potential operational restart, a rare advantage in the mining sector. Recent high-grade channel sampling results outside the current mineral resource estimate further enhance the project’s prospectivity.

Altamin is currently engaged in a strategic process, led by Argent Partners, to either divest the project or attract non-dilutive capital investment. The EIA approval is a timely boost that could increase the project’s appeal to investors and partners by reducing regulatory uncertainty.

Conditions and Next Steps

The EIA approval comes with conditions, including maintaining drill core availability for inspection, establishing a drill hole database accessible to regulators, and continuing water and biodiversity monitoring programs in collaboration with government agencies. These conditions reflect a proactive approach to environmental stewardship and regulatory transparency.

Looking ahead, Altamin’s ability to navigate these conditions effectively will be critical to advancing the Gorno Project through subsequent permitting stages and towards potential production.

Bottom Line?

Altamin’s retrospective EIA approval marks a pivotal step, but navigating ongoing conditions will test the company’s operational discipline and strategic agility.

Questions in the middle?

• How will the EIA conditions impact the timeline and cost of advancing the Gorno Project?
• What strategic outcomes will emerge from the ongoing process led by Argent Partners?
• Could this approval influence broader EU policies on domestic critical raw materials sourcing?