Withdrawal of 2A Mining Right Objection
Kazera Global PLC announced that an objection to the Mining Right for area 2A, covering approximately 3,095 hectares, has been withdrawn, clearing the path for its approval. Within the 2A area, around 170 hectares are believed to contain heavy mineral sand deposits suitable for immediate mining. The company believes the HMS deposits at 2A to be at least as rich as Walviskop, which covers 5 hectares. The withdrawal follows discussions where Whale Head committed to updating its rehabilitation planning, scientific monitoring, and reporting measures. The company anticipates the Mining Right will be granted soon and expects the development to materially expand Whale Head's operational footprint.
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Kazera Global plc (AIM: KZG), the AIM-quoted investment company, announces that its Heavy Mineral Sands ("HMS") subsidiary Whale Head Minerals ("WHM" or "Whale Head") has been notified in writing that an objection lodged against the granting of the Mining Right for the area known as 2A (the "Mining Right") has been withdrawn.
The Company understands that the objection was the reason for delays in granting the Mining Right. With the objection now withdrawn, the Company believes there are no further obstacles to the Mining Right being granted and expects this to occur soon.
The 2A Mining Right covers an area of approximately 3,095 hectares, of which around 170 hectares contain heavy mineral sand ("HMS") deposits suitable for immediate mining subject to the construction of a suitable processing plant. The site lies a short distance north of Whale Head's current Walviskop HMS operation, which covers 5 hectares. The Company believes the HMS deposits at 2A to be at least as rich as Walviskop, with sands continuously replenished by wind and tidal action.
Written notification of the withdrawal has been provided to WHM, following the conclusion of discussions surrounding environmental and community matters. These included a commitment by Whale Head to update its rehabilitation planning, scientific monitoring and reporting measures.
Dennis Edmonds, Chief Executive Officer of Kazera, commented: "We are extremely pleased to have been notified that an objection relating to the 2A Mining Right has been withdrawn, which clears the way for the Mining Right to be granted soon. 2A is a highly prospective HMS area, and its development will materially expand Whale Head's operational footprint, creating the opportunity to dramatically scale HMS production. We will, naturally, update shareholders as soon as we have more news."
The Company will continue to engage with the relevant authorities and stakeholders as the regulatory process moves to completion and will provide further updates as appropriate.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.