Framework agreement1 Apr 2025 09:20
An investor undertakes prospecting operations before applying for a mining or special mining licence (mining licence). The prospecting licence (PL) is issued to the investor through a locally incorporated prospecting company which is usually 100% privately owned (PL Holder). When the investor is ready to apply for a mining licence, there is an obligation to issue not less than 16% free carried interest (FCI) to the Government of Tanzania through the TR. The PL Holder applies for a mining licence, but the mining licence will not be issued until the FWA (among other agreements) are agreed and signed between the investor and the TR.
FROM RNS - Β§ Pursuant to acceptance of the offer, the Company has also paid the first annual license fee and anticipates the formalities of the award to be completed shortly
Β§ The next steps will be the formal award of the ML, and the completion and execution of Regulatory Framework Agreements
NB Given the last sentence in the first paragraph and the recent RNS IMO the framework agreement won't be long coming as it seems most of it would be thrashed out before the offer and acceptance of the ML