Southern Gold’s joint venture (JV) partner Bluebird Merchant Ventures has received the permit to develop the Gubong Gold Mine in South Korea.

Permission was granted by the Ministry of Trade, Industry and Energy (MOTIE).

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Bluebird expects to receive formal documentation of approval from MOTIE in the coming weeks.

The latest permit was the first one issued to a foreign operator since Ivanhoe Mines received its approval for the Eunsan gold deposit in the late 1990s.

Southern Gold and Bluebird each hold 50% interest in Singaporean company Gubong Project JV.

Gubong Project JV owns 100% of South Korean company Gubong Project.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Both companies share the JV costs equally, while Bluebird is responsible for the day to day operations.

A similar corporate JV is in place for the Kochang Project, which is still in the approval process for receiving a permit to develop.

Southern Gold managing director Simon Mitchell said: “This is a very important milestone for the joint venture, and I congratulate Bluebird as operators in securing the permit to develop for Gubong, the first in many years for a foreign operator, at least as far as we are aware.

“This approval paves the way for the JV to take the Gubong project forward and target first gold pour in 2020, another very important milestone that is now closer to being achieved.

“Compared to other regulatory systems, such as we see in Australia, this is an extremely rapid approval process, taking less than one year since its initial submission.”

In June, Bluebird signed a JV deal with Southern Gold for the Kochang gold and silver project in South Korea.