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Angola grants Rift exploration permits

5th February 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – The Angolan Ministry of Geology and Mines has given its approval for ASX-listed Rift Valley Resources’ mining and investment contract over the Ozango multi-metals project.

The approval of the mining and investment contract allows Rift to explore for nonferrous metals, rare-earth elements, rare metals and precious metals on the 3 670 km2 tenement.

The mining and investment contract would be valid for an initial five years, with two one-year extensions available. On the discovery of an economic resource, Rift would also be allowed to apply for a mining licence, which would be valid for a period of up to 35 years.

Rift said on Thursday that the company has already started planning exploration programmes for the Ozango project, which would start as soon as practicable.

Edited by Creamer Media Reporter

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