JOHANNESBURG (miningweekly.com) – The exclusivity period granted to ASX-listed Kibaran Resources for the consolidation and development into a joint venture (JV) of its graphite assets with TanzaniteOne Mining’s assets in Northern Tanzania has been extended for another six months.
Earlier this year, Kibaran signed a nonbinding memorandum of understanding (MoU) with Aim-listed Richland Resources to work towards a legally binding agreement to consolidate their respective graphite assets into a JV.
The MoU had expired on August 5 and a six-month extension of the exclusivity period to February 5, 2015, had been agreed to give the parties more time to finalise a binding agreement.
TanzaniteOne Mining is a wholly owned subsidiary of Richland.