Exploration and development firm Savannah Resources has conditionally secured third mining concession (9228C) for the Mutamba project in Mozambique.<\/p>\n
The mining concession 9228C was awarded by Mozambiques Minister of Mineral Resources and Energy for the Mutamba Heavy Mineral Sands project.<\/p>\n
The award represents a significant achievement for Savannah which operates a joint venture with Rio Tinto.<\/p>\n
It has a term of 25 years, which is valid until 3 September 2044, with a possibility of 25 additional years towards mine-life extension.<\/p>\n
The mining concession covers an area of 11,807ha and is contiguous with 9735C and 9229C concessions, which were secured by Savannah in September.<\/p>\n
These permits cover ground in Inharrime and Jangamo districts in southern Mozambique.<\/p>\n
The Mutamba project is in close proximity to the North\/South EN1 highway and the port of Inhambane.<\/p>\n
It also benefits from a high-quality established transport infrastructure, a daily air service to Inhambane, and grid power.<\/p>\n
Mutamba has an Indicated and Inferred Mineral Resource of 4.4Bt at 3.9% total heavy minerals and constitutes one of the largest remaining mineral sands deposits in the world that is yet to be developed.<\/p>\n
Savannah CEO David Archer said: The conditional award of the third Mining Concession to Mutamba Minerals Sands SA completes the tenement set of the Mutamba Project in Jangamo\/Inharrime and represents a significant achievement for Savannah in its joint venture with Rio Tinto.<\/p>\n
To finalise the process, the normal administrative payments and processes need to be completed; these are currently underway for all three licences.<\/p>\n
We are completing the administrative conditions in a chronological manner following which all three licences will be fully formalised in due course, which, when completed, will continue to consolidate our position in the Mozambican mining industry.<\/p>\n
Once these three Concessions are formalised, they will enable the joint venture with Rio Tinto to progress the Pre-feasibility study (PFS) towards completion.<\/p>\n
The companys interest in the heavy mineral sands project will rise from 20% to 35%, upon completion of the PFS. <\/p>\n
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Savannah wins third Mutamba mining concession in Mozambique - Mining Technology<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Exploration and development firm Savannah Resources has conditionally secured third mining concession (9228C) for the Mutamba project in Mozambique. Continue reading