Peak waiting on special mining licence for Tanzania rare earths mine
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.
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