ASX-listed Australian resources company Cape Lambert Resources has announced that a large scale mining licence for its 100% owned Marampa iron ore project located in Sierra Leone, West Africa has been approved.
Marampa is a specular hematite project currently at the permitting and development stage, located approximately 90km northeast of Freetown. Marampa comprises two granted exploration licences held by Marampa Iron Ore (MIOL), which indirectly, is a wholly owned subsidiary of Cape Lambert.
In April 2013, Marampa was issued its environmental licence for the project, which marked the first key step in the permitting process. In November 2013, an application for a large scale mining licence was lodged with the relevant Sierra Leone authorities.
Cape Lambert has recently received a letter from the Ministry of Mineral Resources (MoMR) advising that its application for a Mining Licence had, on the advice of the Minerals Advisory Board, met the requirements for such a licence and has been approved. The approval is subject to the company notifying the Minister of its acceptance of the proposed licence within 60 days of the notification letter, as well as making payment of the annual mining licence fee.
Following the grant of the Mining Licence, the company will commence negotiations with the Ministry of Mineral Resources on the mine lease agreement, which is expected to take between 6 to 9 months to finalise.
Cape Lambert’s Executive Chairman said “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.”