MRG Metals (MRQ) has applied for mining licences to conduct various mining activities in Mozambique.
The Licences include; licence applications (MLAs) for the company’s Corridor Central and Corridor South heavy mineral sands (HMS) licences. National Institute of Mines (INAMI accepted the submissions with subsequent renumbered by INAMI of Corridor Central to 11142C and Corridor South to 11137C.
Analysis
Chair Andrew Van Der Zwan who confirmed the report said the move followed company releasing initial results from its recent scoping and preliminary economic analysis which indicated higher value products.
“MRG Metals made its application based on the data received, confirming a low cost structure and potential mining operation with mineralisation from surface. On this basis the board decided to progress to mining license application as it is well understood that the process can take a considerable amount of time and we wanted to get ahead of the curve. We anticipate announcing the scoping study preliminary economics shortly and these MLAs marks a significant period in our vision to move from exploration to project development at Corridor while understanding considerable exploration upside remains,” said Mr. Andrew.
With a portfolio of highly prospective exploration opportunities in Mozambique, MRG is well placed to advance multiple early-stage assets in parallel to a strategy of mine approval and development at the Corridor Projects. Further exploration will then aim to deliver these deposits for a mineral resource estimate, with the possibility of significantly improving the economics of the projects.