As one end in the mining and extractive industry takes a toll, there is some beacon of hope on the other end of the tunnel. It may not be anything closer to gold in terms of how precious and valuable it is but would somewaht revitalize and revive the ship of mining sector.
Strandline Resources has secured key environmental approval for its Fungoni heavy mineral sands project, in Tanzania.
The grant of the environmental certificate is a key prerequisite for the grant of a mining licence and will remain valid for the life of the project, with Strandline Managing Director Luke Graham saying the grant of the environmental certificate was a major milestone for the company and its strategy to become a low-cost mineral sands producer in the near term.
The mineral resource at Fungoni is now estimated at 16-million tonnes, grading 3.1 percent heavy minerals, with 60 percent of the resource classified as measured, and the remaining 40 percent as indicated.
A feasibility study is targeted for completion in the third quarter of this year, along with a positive final investment decision, with the intent being to start production in the second half of 2018.
“At the same time, the exploration programmes at our other mineral sands prospects are continuing as part of our strategy to develop a pipeline of projects with varying timelines, production scales and products,” said Graham.