Tembo Nickel Corporation Ltd in Tanzania has vowed to fast-track implementation of the nickel mining project after the government had handed over to them a special mining license over the weekend. Corporation’s Chief executive Officer Chris Slowalter gave the assurance shortly after receiving the special mining license, noting that they intend to start full production in two years and six months’ time.
“The issuance of Kabanga Special Mining License (SML) is a sign of confidence which the government has in the project; we acknowledge its support and that of the shareholders as we move the project forward. And, with the SML in hand, the project can now accelerate and scale-up,” he said.
Preparatory activities
A number of preparatory activities have been going on since they signed a Memorandum of Understanding (MoU) in January, this year, saying the handover of the license has given them a mandate for production take off. Needed infrastructures including roads will be put in place as the company will be running two major projects at the same time: production of the nickel and construction of the nickel refinery which will assure Tanzania’s minerals to be of high quality.
Kabanga Nickel Project will create a credit gate with miners operation using class man nickel, and copper battles in the country whereas with the application of hydrogen they will produce high quality of fine products in the country.
“With the collaboration with Tanzania extractive Industry Transparency Initiative (TEITI) we will be part of the government’s efforts towards development of strategic nickel project which create shared value for our stakeholders” he insisted
The handing over of the special mining license was a landmark partnership to start shared objectives and trust that has been set up between the government and Kabanga Nickel co. Ltd to ensure economic benefits from Joint Venture Company of Tembo Nickel. The government expects to collect an estimated 7.5 billion US dollars almost 17.2tr/- through various fees and taxes over the next 33 years from the Kabanga nickel mining project.
