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Mozambique: Direct agreement to mine vanadium in Balama gets government nod – Carta
4:26 CAT | 24 Oct 2024
FILE - For illustration purposes only. [File photo: Wikimedia Commons / W. Oelen/http://woelen.homescience.net/science/index.html]
On Tuesday (22-10), the Council of Ministers (Cabinet)assessed and approved the decree approving the terms of the direct agreement between the government of the Republic of Mozambique, as grantor, and Twigg Exploration & Mining Limitada, a wholly owned subsidiary of Syrah Resources, as concessionaire of the Balama Mine Project.
“The Agreement aims to ensure financing, by the United States International Development Finance Corporation (DFC), of operational and maintenance expenses, as well as the conduct of a feasibility study for the construction and development of a vanadium processing operation in Balama, as part of the expansion of the Graphite Extraction Project at the Balama Mine, in Cabo Delgado,” reads the Council of Ministers statement.
Twigg Exploration & Mining, a subsidiary of Syrah Resources Limited, is considered “transparent” in terms of the latest Mozambique Extractive Sector Transparency Index 2023, prepared and released this year by the Centre for Public Integrity (CIP).
Also this year, Twigg has been named the Mining Company of the Year for 2024 at the 10th Mozambique Mining and Energy Conference held in May, 2024. This recognition highlights Twigg’s commitment to excellence, innovation and sustainability in the region’s mining sector.
Source: Carta de Moçambique
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