The South African Department of Trade and Industry (DTI) has approved a grant of R7.9 million to Mkango Resources under its capital projects feasibility programme.
The grant will be dispersed to the Company between June 2014 and March 2015 as Mkango Resources meets certain milestones in relation to a number of activities including environmental and social impact studies, mine planning, design of the processing plant and tailings storage facility, flotation and hydrometallurgical optimisation and marketing studies.
“We would like to thank the South African DTI for their support, and look forward to working closely with them and to developing further synergies with the Republic of South Africa. We are very pleased to qualify for this significant funding which, in addition to our recent $2.3m fund raising, provides a solid platform to advance the project towards the development phase,” said Mkango Resources CEO William Dawes.
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Mkango Resources receives 8 million rand grant from DTI