ASX-listed Theta Gold Mines has started earthworks and civil engineering activities at its flagship TGME gold mine project in South Africa, marking a pivotal milestone in the transition from development to construction.

Bulk earthworks, integrated water management and other associated civil engineering activities are set to start during September.

Civil engineering works will form the backbone of the project’s critical path and lay the groundwork for the upcoming structural, mechanical, piping and platework installations, making their timely delivery essential to keep the entire construction programme on schedule.

“The start of the earthworks and other long lead activities demonstrates our urgency and commitment to becoming South Africa’s next gold producer. Once civil works and funding are complete, we will be commissioning the plant by end of 2026 and processing ore in the first quarter of 2027.

“With skilled local teams and experienced contractors, we are hitting key milestones on schedule. Our training programmes will deliver long lasting economic opportunities and prosperity for local communities and the region," says Theta chairperson Bill Guy.

Theta notes that it has secured contracts with construction partners PICM and Mainpro to deliver the critical earthworks and civil phase of the TGME project.

"These trusted partners have been selected to execute this essential phase of the project, bringing not only a wealth of expertise but also a proven record in large-scale infrastructure and resource developments," the company comments.

Further, it says RM Process and Eco Elementum, which designed the project's processing plant, have been appointed as the owners' engineers to oversee this phase of the project.

"Their involvement will ensure that the highest standards of quality, safety and innovation are maintained," says Theta.

Meanwhile, the company has entered into a formal agreement with its long-term institutional investors, Golden Asia Investment Group and High Gift Investments Limited, which have committed to cover any upcoming payment obligations for earthworks, civil works and water management projects, while Theta continues negotiations with lenders on a broader funding package.