The ISP is a requirement for all projects in the state of Wyoming projected to exceed $253.9 million in construction and mine capital costs. This includes all capital needed for the entire project build-out beyond the initial capital costs anticipated by the applicant. The second major permit package is the Mine Operating Permit and Mine Closure Plan, which the company expects to be approved as early as the first half of 2024.

“The ISP application is of significant importance in the regulatory process to protect those who may be impacted by large industrial capital investments,” said George Bee, president and CEO for U.S. Gold. “Currently, we are addressing Wyoming Department of Environmental Protection – Land Quality Division (DEQLQD) comments received following the initial technical review of our Mine Operating Permit application and Closure Plan, which was submitted to the agency on September 13, 2022.”

“While copper-gold mining has not recently been permitted in the state of Wyoming, state agencies are well versed in regulating the extractive industry,” Bee said. “It is evident that a high level of diligence is being brought to bear by the authority to assess and regulate the proposed activity. The opportunity to develop a mine in Wyoming is considered exceptional at a time when other jurisdictions pose challenges to developers, despite good faith efforts to promote beneficial economic activity.”