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08 OCTOBER 2018 AL CIRCLE

Lindian Resources granted license over Lushoto Bauxite Project

EDITED BY : HEENA IQBAL 2MINS READ

Australian mineral exploration company Lindian Resources Limited (Lindian) has received three mining licences from the Tanzania Mining Commission over Lushoto Bauxite Project in Tanzania. The granted licences PL 11176/2017, PL 11177/2017 and PL 11178/2018 cover an area of 53.2 km² and include the high-grade alumina low silica Magamba Bauxite Deposit.

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The granting of these licenses allows the company to proceed with a low cost, high impact auger drilling program and continues discussions with potential strategic farm-in and strategic offtake partners.

Asimwe Kabunga, Chairman of Lindian Resources said:“This is an outstanding development for the company and the granting of these highly prospective bauxite licences adds considerable value to the its portfolio. We have wasted no time, with exploration work due to commence this week, and a low cost, high impact auger drilling programme also scheduled to be undertaken this quarter.

“I would also like to take this opportunity to thank the Tanzanian authorities for the granting of the Magamba tenements. Lindian looks forward to working closely with the relevant authorities in Tanzania to advance the project for the benefits of all stakeholders.

“As well, this is not distracting us from our key focus – being the development of the Kangankunde rare earths project in Malawi.

"The granting of the EPL in respect of the Kangankunde rare earths project will be another key value event for the company.”


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EDITED BY : HEENA IQBAL 2MINS READ

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