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Stellar Gets ‘Verbal’ Go-Ahead for Tongo Project
Jun 1, 2016 8:21 AM
By Rapaport News
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 RAPAPORT... Stellar Diamonds said it was “verbally informed” that its application
for a license to mine at its Tongo project in Sierra Leone was approved by the Minerals
Advisory Board.
The licensing
process is still subject to the National Minerals Agency, the licensing
body of the Ministry of Mines, formally writing to Stellar to inform it of the
decision and drawing up a license agreement. This agreement would then be
forwarded to the Minister of Mines for approval, said Stellar, which owns 100
percent of the Tongo project.
Stellar and the Government of Sierra Leone will then
negotiate fiscal terms. The resulting mining concession agreement will require
ratification through the country’s Parliament.
Meanwhile, Stellar is engaging with the Environmental
Protection Agency over the required environmental license, which must also be
issued before mining can start, the company reported.
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Tags:
Minerals Advisory Board, mining, Ministry of Mines, National Minerals Agency, Rapaport News, Sierra Leone, stellar, Stellar Diamonds, tongo, Tongo mine, Tongo project
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