The Tanzanian Department of Minerals has formally launched the Mining Commission, which will be responsible for administering the minerals sector in that country.
The commission has started a process of issuing some 7 000 mineral licences that had been pending after the Tanzanian government placed a ban on new licences in July last year.
Tanzania-focused graphite miner Kibaran Resources said in a statement on Thursday that this would enable a restart of its exploration and development programmes that were impacted on by the legislative changes introduced last year.
“The launch of the commission paves the way for Kibaran to present its development strategy for the Epanko graphite project and confirm aspects of the new mineral legislation, particularly those that impact the financing of new mining operations in Tanzania,” it said in a statement.
Kibaran is positioned with an $89-million development project, having completed a compliant bankable feasibility study.
The project will provide significant benefits for Tanzania, directly employing some 250 people and contributing over $500-million to the economy in the first 20 years of operation.
Kibaran has invested over $25-million in Tanzania in the last five years, and attracted support from customers and financiers in Australia, Germany and Japan.
The company remains confident it will be able to finalise development plans with the Tanzanian government shortly.