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Tanzania, once pinned as a destination of choice for juniors far and wide, took a turn for the worse when legislation changes some years back and a heavy dispute with Acacia over tax claims saw investors turn their attention to other jurisdictions.
With funding in place secures all legal costs associated with arbitration. Indiana is adequately resourced to deliver a positive outcome.
This project represents an opportunity for Tanzania to play a global role in the supply of strategically important rare earth elements.
Barrick continues to work with the Mining Commission on its local content program, and content spending already accounts for 73% of purchases.
Montero has initiated arbitration proceedings in accordance with the Bilateral Investment Treaty between Canada and Tanzania.
PR NG Minerals is the wholly-owned subsidiary of Peak Resources that applied for a SML for the Ngualla Rare Earth Project.
"We are encouraged by the progress in our social licence to operate in Tanzania and transforming moribund mines."
She is the only current serving female head of state in Africa alongside Ethiopia's Sahle-Work Zewde, whose role is mainly ceremonial.