JOHANNESBURG (miningweekly.com) – Nyota Minerals on Thursday said it had secured an extension on its exploration licence as the Aim- and JSE-listed group and the Ethiopian Ministry of Mines finalise the terms for a large-scale mining licence for its flagship Tulu Kapi gold project.
This followed the Ministry’s confirmation that the company’s definitive feasibility study, including the environmental- and social-impact assessment, of its first mining operation complied with all regulations and satisfied the requirements for the issuance of a mining licence.
"… we can now focus on negotiating the terms on which such a licence will be granted and raising the necessary funding. We are one step closer to developing Ethiopia's next gold mine,” said Nyota CEO Richard Chase.
Nyota and the Ministry have been in negotiations on the financial and legal aspects of developing the openpit gold mine, the company said in a statement.