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Tanzania renews African Barrick special mining licences

JOHANNESBURG

LSE-listed miner African Barrick Gold on Monday reported that it had received the renewals of its special mining licences (SMLs) at its North Mara project, in Tanzania.

The renewals of the licences were on the same terms and conditions as the previous licences and were both for a period of 15 years.

The original North Mara SMLs were issued in February 2000 and had expired in September 2011, since which time the mine had continued to operate on the same basis owing to the rollover provisions contained in the Tanzanian Mining Act.

Since the issue of the original SML 12 years ago, the mine had produced over 2-million ounces of gold and had a further 3.5-million ounces of gold remaining in reserves.

The company’s SML 17/96 has been enlarged twice and now covers an area of 31.3 km2, including both the Gokona and Nyabigena pits.

Its other licence, SML 18/96, had been enlarged six times and now covers an area of 10.5 km2, including the Nyabirama pit.

“We have worked closely with the government over the past 18 months in order to achieve the first renewal of a special mining licence in Tanzania under the Mining Act 2010, and this highlights their focus on ensuring there is a positive investment climate for Tanzania," commented African Barrick CEO Greg Hawkins.

Source: MINING WEEKLY.com

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