Business
New Mining Licence Issued
New Mining Licence Issued.
About this update from Rome Resources Plc
[{"type":"text","content":"\n \nRNS Number : 7742K Pathfinder Minerals PLC 21 July 2011 \n\nEmbargoed: 0700hrs 21 July 2011\n \nPathfinder Minerals Plc\n(\"Pathfinder Minerals\" or the \"Company\")\n \nNew Mining Licence Issued\n \nPathfinder Minerals Plc, the natural resources company with licences to mine heavy minerals sands in Mozambique, is pleased to announce that the National Directorate of Mines at the Ministry of Mineral Resources of Mozambique (the \"Ministry\") has issued a new mining concession licence for the Company's Moebase mineral sands deposit. \n \nMining concession licence 4623C (\"Moebase\") was issued on 13 July 2011 for a period of twenty-five years, replacing the previous exploration and research Licence 73L. Pathfinder Minerals, through its 99.99% owned subsidiary Companhia Mineira de Naburi S.A.R.L., now has mining concessions on both the Moebase and Naburi licences situated on the Indian Ocean coast of Mozambique. \n \nThe Company had previously anticipated that the Moebase licence would be unified with licence 760C (\"Naburi\") and mirror the existing terms of Naburi's twenty-five year mining concession. The Company is very pleased that the Ministry has, in fact, issued a new independent mining concession for Moebase with a twenty-five year term expiring during 2036, whilst the Naburi mining concession, expiring during 2029, remains unchanged. \n \nNick Trew, Chief Executive of Pathfinder Minerals, said:\n \n\"The award of a brand new twenty-five year mining concession for Moebase is the best possible situation for Pathfinder Minerals. The Company is moving forward through feasibility with the benefit of full mining concession status now on both of our assets.\"\n \nEnquiries:\n \nPathfinder Minerals Plc\nNick Trew, Chief Executive\nTel. +44 (0)20 7399 4371\n \nDaniel Stewart & Company Plc\nOliver Rigby or James Thomas\nTel: +44 (0)20 7776 6550\n \nM: Communications\nBen Simons or Maria Souvorov\nTel: +44 (0)20 7920 2340 /2327\n \nNotes to Editors\n \nAbout Pathfinder Minerals \nPathfinder Minerals, through a 99.99%-owned subsidiary, has mining concessions covering approximately 32,000 hectares of land on the Indian Ocean coast of the Zambezia province of Mozambique, known to contain the heavy minerals, ilmenite, rutile and zircon.\n \nThe lic...