JOHANNESBURG (miningweekly.com) – Dual-listed Jubilee Metals Group and Aim-listed BMR Group have agreed, under their joint venture (JV) agreement for the Kabwe lead/zinc/vanadium project, in Zambia, to extend the date for the fulfilment of all conditions precedent from February 28 to March 31.
The extension will allow for the Kabwe project to remedy the cancellation of its current small-scale mining licence.
In February, BMR Group received a surprise mining rights termination notice from the Mining Cadastre Department of Zambia. BMR had the right to appeal against the termination notice within 30 days from February 6.
The notice of appeal by BMR would now be submitted by no later than March 2.
Jubilee CEO Leon Coetzer noted that the company would continue to support its JV partner during this process.
“Our two teams continue to work unabated as we target to shortly finalise the design parameters for the processing plant. I have been encouraged by my ongoing engagement with the Zambian Mining Ministry and I have been invited to follow-up discussions with the Zambian Mining Ministry as soon as the BMR appeal has been submitted,” he said.