11:47 AM EDT, 08/06/2024 (MT Newswires) -- Calibre Mining ( CXBMF ) on Tuesday said it secured federal environmental-assessment approval for the addition of the Berry pit at the Valentine gold mine in Newfoundland and Labrador.

The company said Steven Guilbeault, Canada's minister of environment and climate change, signed an amended decision statement approving the Berry pit.

"With this approval and the recent issuance of provincial mining and surface leases for Berry and associated infrastructure, we now have the major approvals required for the three-pit mine plan included in the 2022 feasibility study," chief executive Darren Hall said.

Calibre said advanced construction progress is now at 77% while engineering works are 98% complete. First gold production is expected in the second quarter of next year.

Calibre shares were last seen down $0.10 to $1.95 on the Toronto Stock Exchange.

Price: 1.95, Change: -0.10, Percent Change: -4.88