JOHANNESBURG (miningweekly.com) – Representing a “major” milestone and strategic step forward in the development of Tawana Resources’ Mofe Creek project, in Liberia, the company reported on Monday that Liberian President Ellen Johnson Sirleaf had officially appointed an Inter-Ministerial Concessions Committee (IMCC) to negotiate the project’s Mineral Development Agreement (MDA).
The dual-listed miner believed the appointment also demonstrated the technical and commercial viability and sustainability of the iron-ore project.
The IMCC would be chaired by the Lands, Mines and Energy Minister and further constituted by a cochair from the National Investment Commission, a legal adviser to the President, Ministers from the departments of Labour, Justice and Finance, as well as representatives of the Environmental Protection Authority, as called by the chairperson.
The role of the IMCC in the MDA process was to oversee and coordinate the entire investment concessional review process and its due diligence functions for the benefit of all parties.
All natural resource concession agreements in Liberia, including mining concessions, were negotiated by the IMCC.
Tawana outlined in a statement that the MDA process had begun with the convening of the Inter-Ministerial Technical Committee last year and subsequent site visits to the project.
The process had now advanced to the next level of negotiation through the appointment of the IMCC.
“The culmination of the MDA process will see a Bill passed through Parliament for the company’s concessional rights to build, operate and sustain a mining and logistics operation within the Grand Cape Mount County.
“This appointment of the IMCC to negotiate Tawana’s MDA coincides with Tawana’s redeployment of key personnel into Liberia this month,” it stated.
Tawana CEO and executive chairperson Wayne Richards described the company’s interaction with the Liberian government over the past six months as “positive and rewarding”.
“We are proud to be developing a project within Liberia with the full support of the government and the communities within our project area and look forward to negotiating and finalising the MDA over the coming months,” he commented.