Thursday, 30 April 2009

Firms in deal over nickel exploration

From The Citizen, Dar es Salaam
By The Citizen Reporter and Agencies

African Eagle Resources has signed a letter of intent for an option agreement and a joint venture with Czech Republic mining company Safina over the Ngasamo licence area in Mwanza.

A statement has noted that Safina has entered the deal through its subsidiary, Tanzania Precious Metals Refinery Limited (TPMRL).

The Ngasamo licence area in Magu district lies adjacent to African Eagle Resources' Dutwa nickel laterite project in Shinyaga's Bariadi district. "Under the agreement, African Eagle can earn an interest of up to 75 per cent in Ngasamo by carrying out exploration and evaluation work, leading up to a feasibility study.


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