Magnis Resources' Chairman Explains Special Mining License in CommSec Interview

Magnis Resources (ASX:MNS) Chairman, Frank Poullas, was interviewed by CommSec about the Nachu Graphite Project in South East Tanzania. In the interview, Mr. Poullas highlighted the Company’s recent news on the issuance of a special mining license, saying that, “We now have all mining and environmental approvals. A special mining license is even more critical in Tanzania. It allows us… [sic] the Mining License covers a larger area, being 30 sq. km. versus 10 sq. km. for a standard mining license. It also lasts for 25 years, rather than 10 years for standard mining licenses. But more importantly, it’s the fiscal stability that goes with the special mining license so tax rates, government free carries and so on – once is negotiated on and we’re close to finding those numbers – the government cannot go back on those numbers.”
Watch the full interview: