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With an SML in place, Peak Resources will look to secure funding to build Ngualla, and an associated downstream beneficiation facility.
Peak Resources has been informed by the Tanzanian government that the Special Mining Licence assessment process for its Ngualla rare earth project is nearly complete.
After being recommended for grant by the Mining Commission the cabinet approval process for the granting of a special mining licence to Peak Resources Ngualla project in Tanzania in underway.
Peak Resources will acquire 100% ownership in its Tanzania Ngualla project but will it be impacted by the 16% free carry stake stipulated by government?
Peak Resources has announced that the environmental permit for the planned rare earth separation plant in the UK has been granted by the Environment Agency.
Peak Resources has entered into an option agreement for the long term lease of the land for the proposed Teesside rare earth refinery and separation plant.
The government of Tanzania recently established a Mining Commission in accordance with its new Mining Act. This means that the government can reinstate the issuing of mining licences following the enforcing of a copper and gold concentrate ban and some draconian amendments to mining policy and legislation.
The Tanzanian Minister for Minerals, Angellah Kairuki, has instructed the county's Mining Commission to begin processing Peak Resources' Ngualla SML application as quickly as possible.