Dual-listed Tanzanian Gold has been granted an extension to the renewal date for the special mining licence (SML) over its Buckreef gold project, in Tanzania
The company received a certificate for renewal of the SML from the Mining Commission of the Ministry of Minerals of Tanzania.
The SML renewal period for Buckreef has now been extended from 2027 to 2032.
Under the Tanzanian Mining Act, an SML confers on the holder the exclusive right to carry out mining operations and to prospect within the SML for minerals as specified in the licence. The duration of the SML covers the estimated life-of-mine (LoM), with specified renewals over that period.
The company anticipates the LoM will extend significantly beyond 2032 and, therefore, the SML will be renewed prior to the renewal date, in accordance with the requirements under the Tanzanian Mining Act.
