Toronto — Executives at Barrick Gold and Glencore expect to receive a new licence for their Kabanga nickel joint venture in Tanzania, having held "productive" talks with the government during the past several months, Barrick said on Sunday. Under changes to Tanzania’s mining licence structure, put into place in January, Barrick and Glencore have applied for a prospecting licence to replace the retention licence they previously held on the undeveloped project. The retention licence was due to expire in 2019, and the new licence would be good for four years, Barrick spokesman Andy Lloyd said. "Glencore and Barrick expect to receive a prospecting licence and look forward to continuing the constructive relationship that exists with both the government of Tanzania, and the communities in the area of the project," Lloyd said. Reuters reported earlier that Tanzania had revoked a retention licence for the Kabanga nickel asset, as well as 10 other retention licences for nickel, gold, silver,...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.