Cape Lambert lodges Marampa Mining Licence application
THE DRILL SERGEANT: Cape Lambert Resources (ASX: CFE) has lodge an application for a Large Scale Mining Licence for the company’s 100 per cent-owned Marampa iron ore project located in Sierra Leone, West Africa.
The Marampa project comprises two granted exploration licences held by Marampa Iron Ore Limited (MIOL), which indirectly, is a wholly-owned subsidiary of Cape Lambert.
Marampa has a total JORC Mineral Resource of 681 million tonnes at 28.2 per cent iron (above a cut-off grade of 15 per cent iron) covering four deposits (Gafal, Matukia, Mafuri and Rotret).
Marampa project location. Source: Company announcement
A 15 million tonnes per annum Scoping Study Update, to incorporate pumping of concentrate to a Marampa-owned trans-shipping port at Tagrin, using a simplified process flow sheet, was completed in May 2013.
In April 2013, Marampa was issued an Environmental Licence for the Marampa project, which marked the first key step in the permitting process.
Subsequent to the Environmental Licence being granted, Marampa has been preparing its Mining Licence application, which has now been lodged with the authorities.
The granting of the Mining Licence, which the company anticipates will occur in early Q2 2014, is the final key step in the permitting process for the Marampa project.
The grant of the Mining Licence de-risks the Marampa project and adds value from a potential investor’s perspective by paving the way for the development of the project.
“The granting of the Mining Licence is the last key hurdle for progressing the Marampa project to eventually become Sierra Leone’s third iron ore producer,” Cape Lambert Resources executive chairman Tony Sage said in the company’s announcement to the Australian Securities Exchange.
“Marampa has been demonstrated to be a financially robust project and gaining the necessary governmental approvals will significantly enhance the assets appeal to potential investors, in turn adding significant value for our shareholders.”
Email:
info@capelam.com.au
Website:
www.capelam.com.au