Kibo to start Haneti exploration following JV finalisation
JOHANNESBURG (miningweekly.com) – An exploration programme is set to begin at the Haneti nickel project, in Tanzania, following the finalisation of a joint venture (JV) agreement between owner Kibo Mining and Brazil’s Votorantim Group subsidiary Votorantim Metaís Participações (Votorantim).
The agreement would see the parties jointly conducting exploration work for nickel and other base- and precious metals.
The announcement on Wednesday followed the approval of the first drawdown against the £2.7-million funding package provided by Votorantim.
The exploration programme would seek to establish a Joint Ore Reserves Committee-compliant mineral resource at Haneti, after which the parties would consider the further development of the project on the merits of the exploration results.
Kibo CEO Louis Coetzee said he was pleased that the legal and administrative formalities in respect of the JV had finally been concluded.
“We look forward to pursuing the promising initial exploration results achieved on the Haneti properties further with our Brazilian partners,” he commented.
Mining Weekly Online reported last month that extensive nickel anomalies from soil sampling and trenching had been identified on a 70-km-long zone at the Haneti project, showing promise of a gold target where active artisanal mining was taking place.
However, reconnaissance geology mapping suggested the possibility of larger-scale gold occurrences in a number of the artisanal mining areas.
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