Minerals 260 has secured a Western Australian Works Approval for the processing plant, power infrastructure and tailings storage facility at its 6.2Moz Bullabulling Gold Project. The milestone advances the project towards a targeted first-quarter 2027 final investment decision, although two important approvals remain outstanding.
- Works Approval granted for Bullabulling’s core processing and mine-support facilities
- Approval remains subject to native vegetation and mine development permits
- Final Investment Decision targeted for Q1 CY2027
- First production target remains 2028
- Bullabulling resource stands at 190Mt at 1.0g/t gold for 6.2Moz
Works Approval covers Bullabulling’s core infrastructure
Minerals 260 Limited (ASX:MI6) has cleared a significant permitting hurdle at its 100%-owned Bullabulling Gold Project, with the Western Australian Department of Water and Environmental Regulation granting the Works Approval needed for key project infrastructure.
The approval covers the proposed processing plant, power infrastructure and tailings storage facility. It does not, however, amount to blanket authorisation for the mine to proceed: Minerals 260 said development remains subject to receipt of a Native Vegetation Clearance Permit and the Mine Development and Closure Proposal.
Approval supports Q1 2027 investment decision
The permitting step arrives as the company moves Bullabulling towards its stated development timetable. Minerals 260 is targeting a Final Investment Decision in the first quarter of calendar 2027 and first production in 2028, with the remaining approvals progressing through Western Australia’s state approvals pathway.
The approval also follows the company’s recent disclosure of $410m debt commitments for Bullabulling, although those facilities were reported as credit-approved commitments rather than funding at financial close. Taken together, the sequence places greater weight on the outstanding permits, the definitive feasibility work and the conditions attached to project funding before construction can be fully sanctioned.
6.2Moz resource remains the project foundation
Bullabulling is a potential open-pit operation 25 kilometres south-west of Coolgardie in Western Australia’s Eastern Goldfields. Its July 2026 JORC 2012 Mineral Resource Estimate comprises 190 million tonnes at 1.0g/t gold for 6.2 million ounces, including 4.4Moz in the indicated category and 1.7Moz inferred.
Minerals 260 Managing Director Luke McFadyen described the Works Approval as another step in the company’s effort to “de-risk” development and support the 2028 production target. The next material test is whether the remaining environmental and mine-development approvals arrive in time to support the planned FID, alongside financing close and the construction decisions that follow.
Bottom Line?
The approval removes one important permitting obstacle, but Bullabulling’s 2027 investment decision still depends on the remaining clearances, funding conditions and development work.
Questions in the middle?
- When will Minerals 260 receive the Native Vegetation Clearance Permit and Mine Development and Closure Proposal?
- Will the remaining approvals and financing conditions be completed in time for the targeted Q1 CY2027 Final Investment Decision?
- What capital, construction and commissioning timetable will emerge once the definitive feasibility study is complete?