JOHANNESBURG (miningweekly.com) – Aim-listed mineral exploration company African Minerals has relinquished the mineral rights it held over certain exploration areas in Sierra Leone.

As a consequence of the relinquishment, which was a requirement under the mining legislation in Sierra Leone, African Minerals would still retain mineral rights covering a total area of about 18 408 km². This would compromise prospecting licences over about 2 441 km², and mining leases over about 162 km².

“As part of the relinquishment process, the company has agreed to provide the government of Sierra Leone with the geophysical and geochemical data collected by the company in those areas, for use by third parties.”

The company stated on Tuesday that its exploration work undertaken under the licences, had not revealed significant mineral anomalies.

African Minerals would be concentrating its financial and managerial resources on its Tonkolili flagship iron-ore project, the Marampa iron-ore project, and the Pepel port and railway infrastructure project, which were all located in Sierra Leone.

“This strategy, together with the challenging economic conditions being experienced by business in general, has resulted in the company’s decision to scale back temporarily activities at its diamond, base metals, and uranium exploration projects.”