OreCorp marks milestone in Tanzania
PERTH (miningweekly.com) – The special mining licence application for the Nyanzaga gold project has been approved by the Tanzanian Cabinet of Ministers, ASX-listed OreCorp reported.
The project is expected to produce some 213 000 oz/y over a mine life of 12 years, with OreCorp expected to invest some $287-million to bring the project into production.
The company on Thursday said that it was now working with the government of Tanzania to finalise a framework agreement, shareholder agreement and other accompanying documents required in connection with the grant of the special mining licence application.
The company noted that the Cabinet approval for the special mining licence was a pivotal milestone towards the development of the Nyanzaga gold project.
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