UK’s Pathfinder Minerals granted new mining license in Mozambique

22 July 2011

London, United Kingdom, 22 July – British company Pathfinder Minerals said it had been granted a new mining license in Mozambique for exploration of heavy sands in Moebase, according to a statement issued in London Thursday.

The new concession was issued on 13 July for a period of 25 years and the company, via its 99.99 percent owned subsidiary, Companhia Mineira de Naburi, now has two mining licenses – Moebase and Naburi – in Mozambique.

The two licenses cover an area of 32,000 hectares in Zambezia province and contains heavy minerals such as ilmenite, rutile and zircon totalling some 71.7 million tons.

Pathfinder Minerals is a mining company listed on the Alternative Investment Market (AIM) of the London Stock Exchange. (macauhub)