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Arcadia Minerals Ltd (ASX:AM7, FRA:8OH) (Arcadia or the Company), the diversified exploration company targeting a suite of projects aimed at Tantalum, Lithium, Nickel, Copper and Gold in Namibia, is pleased to announce that a Mining License and an Environmental Clearance Certificate have been granted to Arcadia’s 80% owned subsidiary Orange River Pegmatite (Pty) Ltd (ORP).
HIGHLIGHTS
- Mining License granted over the Swanson Tantalum Project Area
- Environmental Clearance Certificate Issued for the proposed development of a Tantalite Mine at Swanson
- Definitive Feasibility Study over Swanson well underway and expected to be completed by September 2022
Mining License
Following an application for a Mining License brought by ORP on 22 May 2020, a Mining License styled “ML223” has been granted.
Figure 1: Map indicating in hatched red the Swanson Mining License Area
The license was granted by the Minister for the Department of Mines and Energy of Namibia on 3 June 2022 and authorises ORP to commence with the necessary development work towards mining operations for Base and Rare Metals, Industrial Minerals and Precious Metals over the Swanson Tantalite Project (see Figure 1 above) for a period of 15 years (from 19 May 2022 up to 18 May 2037).
In terms of the Minerals (Prospecting and Mining Act) of 1992, the mining license is renewable by application 12 months before its expiry date subject to ORP showing that the mineral to which the mining license relates exists in the mining area in sufficient quantity that it can be won or mined and sold. The Minister may not refuse to grant an application for the renewal of a mining licence if the holder of the license complied with the terms of the mining license and the proposed programme of mining operations and has expended the capital required for the purposes of which the mining license was granted.
Environmental Clearance Certificate
ORP has also received notice that an Environmental Clearance Certificate (ECC) to undertake the proposed development of a Tantalite Mine at Swanson and to commence with activities specified in ORP’s environmental assessment report and environmental management plan filed with the Ministry of Environment, Forestry and Tourism of Namibia has been granted under reference ECC 02187.
Feasibility Study
As reported on 6 May 20221 the Company is in the process of completing a Definitive Feasibility Study over the Swanson Tantalum Project for the production of a Tantalum concentrate containing a minimum metal content of 25%. The study is well underway and is expected to be completed by September 2022.
This announcement has been authorised for release by the directors of Arcadia Minerals Limited.
For further information please contact:
Jurie Wessels
Executive Chairman
Arcadia Minerals Limited
info@arcadiaminerals.global
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This article includes content from Arcadia Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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