Business
Full Tenement Permitting Completed at Mutamba
Full Tenement Permitting Completed at Mutamba.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n \nRNS Number : 6609Z Savannah Resources PLC 14 January 2020 \n\n14 January 2020\n \nSavannah Resources Plc ('Savannah' or the 'Company')\n \nFull Tenement Permitting Completed\nThird Mining Concession Issued for the Mutamba Heavy Mineral Sands Project, Mozambique\n \nSavannah Resources plc (AIM: SAV, FWB: SAV and SWB: SAV), is pleased to announce that the Minister of Mineral Resources and Energy in Mozambique has issued Mining Licence 9228C ('Licence 9228C' or the 'Concession') to Mutamba Mineral Sands S.A. This completes the grant of the three core, contiguous concessions in the Mutamba Heavy Mineral Sands Project in Mozambique ('Mutamba' or the 'Project'), over which the Company operates a joint venture with mining major Rio Tinto. \n \nTo view the announcement with the illustrative maps and diagrams, please use the following link: \nhttp://www.rns-pdf.londonstockexchange.com/rns/6609Z_1-2020-1-13.pdf\n \nHighlights\n· Licence 9228C issued, covering 11,807 hectares ('ha') and valid to September 2044, with the possibility of an additional 25-year extension\n· Licence 9228C is part of Mutamba, which contains an Indicated and Inferred Mineral Resource of 4.4Bt, grading 3.9% total heavy minerals\n· Licence 9228C is the third and final of three contiguous concessions and completes the full tenement permitting of Mutamba\n· The Concession is close to the Port of Inhambane and has a daily air service, a reliable power supply and excellent road connections\n \nDavid Archer, Savannah's Chief Executive Officer said: \"The issue of Licence 9228C by the Government of Mozambique completes the licensing process for the three core Mutamba concessions. The process has been rigorous and demanding but we have now achieved one of the most important milestones in the orderly progression towards mine development. In the short term, our focus will be to continue to progress the Mutamba Pre-Feasibility Study ('PFS') towards completion, which, upon delivery, will trigger the increase in our interest in the Project from 20% to 35%. With an Indicated and Inferred Mineral Resource of 4.4Bt at 3.9% total heavy minerals, the global significance of the opportunity is clear and compelling.\"\n \nFurther ...