ASX-listed Strandline Resources is pleased to provide an update on the status of the Mining Licence Application for its flagship Fungoni mineral sands project in Tanzania following meetings with senior government officials.
Following legal reviews of Tanzania’s new Mining Regulations, and after consultation with the Tanzanian Ministry of Minerals earlier this year, Strandline updated and resubmitted its MLA in March 2018 to ensure compliance with the new provisions.
Of note, Strandline’s updated MLA emphasises its local content plan, procurement practices, corporate social responsibility, indigenous engagement and knowledge transfer initiatives, advanced process beneficiation in-country and integrity pledge.
On 13 April 2018, senior representatives from Strandline, including the company’s chairman, Didier Murcia, met with Tanzanian Minister for Minerals, the Honourable Angellah Kairuki; Deputy Minister for Minerals, the Honourable Stanslaus Nyongo; and Commissioner for Minerals, Professor Shukuruni Manya.
During the meeting, Minister Kairuki confirmed:
- Tanzania’s commitment to encourage and facilitate mining investment in Tanzania; and
- The formation of the Mining Commission is expected to be completed soon
- Finalisation of the Commission is expected to pave the way for approval of the Fungoni mining license
“It is very encouraging to hear that the establishment of the Mining Commission is now imminent,"comments Murcia.
“On behalf of Strandline, I wish to thank Honourable Kairuki, Honourable Nyongo and Professor Manya for their ongoing support of the Fungoni Project, the development of which will bring significant value and benefits to all stakeholders.”
Fungoni project snapshot
The Fungoni DFS completed in October 2017 confirmed that the project will deliver strong financial returns, has a high unit value product suite, is capital-efficient, and
demonstrates the strategic potential of the company’s portfolio of mineral sands assets in Tanzania.
The project is favourably located ~25km from Dar es Salaam port in a growing commercial/industrial district and will benefit from existing infrastructure, including an established road network and services industry.