Matilda Minerals, a subsidiary of the Savannah Resources group, has submitted a request to the Mozambican government for a mining license for an area of 119 square kilometres, the group said in a statement released on Friday.
The area covered by the application submitted to the Ministry of Mineral Resources and Energy is contiguous to those covered by two applications previously submitted in January 2018 by Mutamba Minerals Sands, a wholly-owned subsidiary of the Anglo-Australian mining group Rio Tinto.
The press release from the Savannah Resources group further informs that the application now being filed is part of the project to consolidate the heavy-sand assets of both groups under a previously signed partnership agreement.
The group also reported that the area covered by the application contains a number of minerals estimated to total 65 million tons, and the three licenses, when combined, cover an area of 399 square kilometres.
Savannah Resources, which explores copper and gold deposits in Oman and lithium deposits in Portugal, is involved in this heavy sands project in Mozambique in consortium with the Rio Tinto mining group, with a 20% stake, which could increase to 35% and 51% after completion of the pre-feasibility and economic feasibility studies. (macauhub)