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Vimetco obtains updated mining licence in Sierra Leone
Edited by : AL CIRCLE
1 min read
Vimetco, the global producer of primary and processed aluminium products, has announces that its bauxite producing subsidiary, Sierra Minerals Holdings (SMHL), has signed an updated Mining Lease Agreement (MLA) with the Government of Sierra Leone.
Under this agreement the Company's Mining Lease, of 321 square km in the Mokanji area of Sierra Leone, will be granted for a period of 20 years from the effective date, while the perimeters remain the same.
The updated MLA brings SMHL up to date with the latest legislation in the mining and minerals field in Sierra Leone.
"Vimetco is determined to continue its vertical integration strategy, focusing on securing all necessary raw materials for the entire production chain", said Gheorghe Dobra, CEO of Vimetco. "This agreement is yet another confirmation of our commitment to further developing our business from a sound and strong base."
Acquired in 2008, the bauxite mine in Sierra Leone has a resource base of approximately 31 million tonnes and produced over 1.3 million tonnes of bauxite in 2011, up from 1.05 million tonnes in 2010.
Under this agreement the Company's Mining Lease, of 321 square km in the Mokanji area of Sierra Leone, will be granted for a period of 20 years from the effective date, while the perimeters remain the same.
The updated MLA brings SMHL up to date with the latest legislation in the mining and minerals field in Sierra Leone.
"Vimetco is determined to continue its vertical integration strategy, focusing on securing all necessary raw materials for the entire production chain", said Gheorghe Dobra, CEO of Vimetco. "This agreement is yet another confirmation of our commitment to further developing our business from a sound and strong base."
Acquired in 2008, the bauxite mine in Sierra Leone has a resource base of approximately 31 million tonnes and produced over 1.3 million tonnes of bauxite in 2011, up from 1.05 million tonnes in 2010.
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