By Taonga Sabola:
Canadian mining firm, Mkango Resources Limited, has said it has been granted a new Exclusive Prospecting Licence to search for minerals in Mchinji District.
Currently, the firm is exploring rare earth minerals at Songwe Hill in Phalombe.
The Mchinji licence covers an area of 868.69 km2 and is adjacent to licences with known mineral potential including the company’s Chimimbe Hill nickel-cobalt licence to the south.
The licence would see Mkango exploring the existence of nickel-cobalt, gold, base metals and graphite.
The miner said in a statement, the licence initially awarded for a three-year term, after which it could be renewed twice for further two-year periods with a 50 percent reduction in the licence size required with each renewal.
The firm says it would evaluate all historical data over the Mchinji licence area for exploration targets in the context of geophysical data produced by a countrywide airborne survey completed by the World Bank in 2016.
Mkango President, Alexander Lemon, said the firm was happy with the development.
“We are delighted to have been granted the Mchinji exploration licence, which strengthens the company’s strategic licence position in Malawi.
“We are commencing a full historical data review to identify exploration targets, and look forward to updating shareholders on this new licence in due course,” Lemon.
The firm says the evaluation of the licence would be funded using its existing working capital.
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