Mkango Resources Limited, a Canadian-based mineral and exploration company, has been awarded a two-year licence renewal for exclusive prospecting.
The company, whose primary business is exploration for rare earth elements and associated minerals in the country, has since confirmed this in a press statement.
Last month, the company said it has started the updating mineral resource estimates following the completion of the final 21 drill holes from the recently completed 10 900-metre diamond drill programme at the Songwe Hill Rare Earths Project in Phalombe.
Then, the company’s chief executive officer William Dawes said following the resource update and subsequent publication of the related NI 43-101 technical report, anticipated in first quarter 2019, Talaxis will invest a further £7 million (about K6.6 billion) to fund completion of the feasibility study for Songwe, which will be the main focus for 2019.
Mining expert Grain Malunga said yesterday this is a confirmation of success made on the ground.
“This is a confirmation of success which the company has since registered on the ground in the eight years it started exploration works in the country and we hope it will eventually lead to them being granted mining licence,” he said.
The Canadian mineral exploration and development company is focused on rare earth elements and associated minerals.
This is the eighth year since the company started exploration wirks in the country and a total of 6 558 metres of drilling have been completed.