Liberia's first commercial gold mine, New Liberty Project got the required green signals as Aureus, the mining company said it can start mining by the year end. %% According to Aureus, it got an environmental permit for the New Liberty Project but till requires approval for its relocation and community development plans, which are expected by the year-end. %% New Liberty has an indicated mineral resource of 1.143 million ounces grading 3.6 grams per tonne with the potential to support production of 120,000 ounces a year for the first four years. %% The project is located in the Bea Mountain mining licence, covers 457 square kilometres and has a 25-year, renewable mineral development agreement. %% The initial cost of development is expected to be in the region of $140 million. And based on a $1,400 an ounce gold price, it would provide a 37 per cent initial rate of return for Aureus. %% Total revenues are forecast at $1.2 billion with pre-tax cash flows estimated at $338 million. Weaju will be the first target for exploration when the next field season begins later this month, which includes historic intercepts of 33 grams per tonne over 24 metres and 19.9 grams over 34m. %%