Search: News Price
Home |  Register |  Price Index  |  Publication |  Consultancy |  Data |  Events |  Enquiry |  Language
Mar.29.2024 1USD=7.0948RMB
  SteelHome >>Raw Material>>Market Info>>International Dynamics
 
Cape Lambert Resources Granted key Mining Licence for Marampa Iron Ore Project

https://en.steelhome.com [SteelHome] 2014-10-23 17:57:45

share to social network site
Cape Lambert Resources (ASX:CFE) has been granted a large scale mining licence for its wholly-owned Marampa Iron Ore Project in Sierra Leone and will now negotiate a mine lease agreement.

Marampa is a brownfields hematite project with total JORC Resources of 681 million tonnes at 28.2% iron at a 15% iron cut-off.

With the grant of the Mining Licence, Cape Lambert will commence negotiations with the Ministry of Mineral Resources on the mine lease agreement.

This will take between 6 to 9 months to finalise.

"I am delighted that the MoMR has finally approved the grant of Marampa's Mining Licence so that we can get on with the process of negotiating the mine lease agreement, which will provide another level of confidence for potential investors or acquirers of the project," Cape Lambert executive chairman Tony Sage said.

Analysis

The grant of the Mining Licence provides potential project investors or acquirers with another level of confidence.

This is timely given yesterday's agreement with Timis Mining that could provide Cape Lambert potential payments of up to US$56 million over four years.

Source: www.proactiveinvestors.com.hk
Related News
上海市通信管理局
沪B2-20040629
Copyright© 2004-. SteelHome.com. All Rights Reserved
Shanghai SteelHome Information Technology Co., Ltd    Tel: +86) 021-50585733, 50585358    Fax: 021-50585277