The permission to mine was granted by the District Mining Bureau subject to Ortac sticking to the plan it submitted, which specified ore extraction will be carried out using underground mining methods only.
Ortac added it is likely the decision will face an appeal, which has to be filed within 15 days.
Vassilios Carellas, Ortac’s chief executive said: "We are very pleased to have received a positive decision from the District Mining Bureau and look forward to making preparations to start mining from the Šturec deposit.
He added, however, that as well as an appeal for a review by the Slovak Central Mining Bureau there may also be calls for a judicial review of the process itself.
Carellas added Ortac would continue to work closely with interested parties to address any and all concerns as they arise.