MRG Metals Advances with Corridor Central Mining Licence Approval
MRG METALS LIMITED (MRQ) Share Update January 2025 Tuesday 14th
MRG Metals Secures Key Mining Licence for Corridor Central Project
MRG Metals Limited, a prominent player in the mining sector, has announced a significant milestone with the approval of the Corridor Central 11142 Heavy Mineral Sands (HMS) Mining Licence by Mozambique's Minister of Mineral Resources and Energy.
Instant Summary:
- Corridor Central 11142 HMS Mining Licence approved and signed by Mozambican authorities.
- Koko Massava deposit boasts a high-grade JORC Resource of 103 Mt @ 6.6% THM.
- Corridor South 11137 HMS Mining Licence nearing final approval.
- Nhacutse and Poiombo deposits hold a high-grade JORC Resource of 257 Mt @ 6.0% THM.
Licence Approval Details
MRG Metals Limited has successfully secured the Corridor Central 11142 Mining Licence, marking a critical step in the development of its heavy mineral sands projects in Mozambique. This approval was granted by the Mozambican National Mining Institute (INAMI) and signed by the Minister of Mineral Resources and Energy.
The Corridor Central project is home to the world-class Koko Massava deposit, which features a Global JORC Mineral Resource Estimate (MRE) of 1,531 Mt at 5.1% total heavy minerals (THM) and a high-grade resource of 103 Mt at 6.6% THM, using a 5.5% cut-off grade.
Future Prospects and Developments
In addition to the Corridor Central licence, MRG Metals is on the brink of securing the Corridor South 11137 Mining Licence. This area includes the Nhacutse and Poiombo deposits, which hold a Global JORC MRE of 860 Mt at 4.9% THM and a high-grade resource of 257 Mt at 6.0% THM.
The final approval of the Corridor South licence is anticipated to facilitate the commencement of mining activities in 2025, in partnership with MRG's joint venture partner, SLC.
The approval of the Corridor Central Mining Licence is a significant advancement for MRG Metals, potentially boosting investor confidence and enhancing the company's market position. The high-grade resources at Koko Massava and the anticipated approval of Corridor South could lead to increased production capacity and revenue generation.
Investor Reaction:
Analysts are likely to view this development positively, as it represents a substantial step forward in MRG Metals' project timeline. The high-grade mineral resources and strategic partnerships position the company well for future growth.
Conclusion:
Investors should keep a close eye on MRG Metals' progress as the company moves towards production. The successful execution of its mining strategy could yield significant returns, making it a potentially attractive investment opportunity.