Walkabout Resources (ASX: WKT or Company) is pleased to announce that is has submitted a Mining Licence Application to the Ministry of Energy and Minerals of Tanzania. The Application has been prepared in compliance with the recently promulgated amendments to the Mining Act 2010 of Tanzania.
Currently, a moratorium on the award of any Mining Licences and Special Mining Licences is in force throughout Tanzania but the Company believes that the application will be processed administratively and then remain pending final amendment requirements pursuant to the new regulations due for publication and process.
The Directors remain confident of the award of a Mining Licence in compliance with the standard fiscal and regulatory requirements. As soon as the regulations have been finalised and are enforced, further discussion regarding the proposed 16% “free carry” will be progressed.
The Company is also pleased to report that detailed design for the Lindi Jumbo Project is progressing in Yantai, China to the satisfaction of the Company.
The Company is finalising fixed price procurement and construction Agreements for the Chinese components of the process plant and utilities, in equipment and services that will make up the mine construction.