Under the approval terms, the GSM will be liable to complete the mining activities on the project within two years of securing the license grant.
"A formal application and hearing was held in St Gertraud, Carinthia, Austria in December 2012 where groups representing the Town Council, Environmental and Public interest were present along with all departments of the Mines Authority," the company stated.
The project is located in Carinthia, 270 km south of Vienna and the approval was secured alongside various exemptions and variations in the license.
Exemptions include cost saving of nearly €200,000 in contractor fees for egress as it is permitted to extract 2 by 500 tonne bulk samples without the requirement to complete a second egress.
Global also secured the reduction in the bond payment to €20,000 from previously claimed €200,000.
The company has stated that it is seeking three tenders from local contractors to extract the bulk samples.
