Peak waiting on special mining licence for Tanzania rare earths mine

28th February 2018 By: Anine Kilian - Contributing Editor Online

JOHANNESBURG (miningweekly.com) – ASX-listed Peak Resources’ special mining licence (SML) for its Tanzania-based Ngualla rare earths project has not yet been considered by government, owing to changes in Tanzanian legislation surrounding all mining activities in the country.

The company said in a statement on Wednesday that government had confirmed a large backlog in mining applications that need to be considered and that a fast-tracking process would be adopted to clear as many applications as possible in a short period of time. 

“We think the SML will be granted imminently, which will be a major milestone towards getting into production and to add value for our shareholders,” CEO Rocky Smith noted.

The next step for Peak is to conduct a technical workshop with government stakeholders in April. The workshop will assist government to consider the SML application in a timely manner.