Tanzania cancels Barrick Gold-Glencore mining licence
The loss of the retention licence will affect the undeveloped Kabanga nickel project
Dar es Salaam — Tanzania has revoked a retention licence for an undeveloped nickel project jointly owned by Barrick Gold and London-listed miner Glencore as part of enforcement of a new mining regime. The licence for the Kabanga nickel project in northwestern Tanzania was among 11 retention licences cancelled by the government under the Mining (Mineral Rights) Regulations of 2018 approved in January. A retention licence is granted to holders of a prospecting licence after they identify a mineral deposit within an area that is potentially of commercial significance but cannot be immediately developed due to technical constraints, adverse market conditions or other factors. "The mining commission would like to inform all owners of retention licences that the licences have been cancelled," commissions chairman Idris Kikula said in a statement. Under legislation passed in July 2017, the mining commission has been given extensive powers to regulate and monitor mining in Tanzania. Barrick...
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