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17 Sep 2012 07:00
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17 September 2012
Bellzone Mining plc
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ForΓ©cariah Mining Permit Approval
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Bellzone Mining plc (AIM:BZM) ("Bellzone" or the "Company") is pleased to announce the signing of the Decree (A/2012/102/PRG/SCG) for the ForΓ©cariah Mining Permit ("Mining Permit") by The President of the Republic of Guinea, Alpha CondΓ©, on 4 September 2012.
The Mining Permit covers an area of 319km2 on which the mining operation at Yomboyeli managed by Forecariah Guinea Mining SA ("FGMSA") is located. FGMSA is the Guinea subsidiary of Forecariah Holdings Pte Ltd ("FHPL"), the incorporated joint venture between Bellzone and China International Fund Limited ("CIF").
The Mining Permit is held by Guinea Development Corporation Mining and Oil and Gas ("GDC"), a subsidiary of CIF. As previously announced, in terms of the definitive agreement and the FHPL shareholder agreement entered into between CIF and Bellzone, GDC is required to transfer the Mining Permit to FGMSA.
The permit is valid for 15 years with further extensions possible.
Glenn Baldwin, CEO, said: "The granting of the Mining Permit for the ForΓ©cariah Joint Venture operations follows on from the letter of authorisation received from the Minister for Mines on 22 May 2012 and concludes the permitting process, allowing the operations to move forward with certainty towards first export."Β
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Enquiries:
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Bellzone Mining plc
Terry Larkan +44 (0) 1534 834 699
Graham Fyfe +61 (0) 8 9420 8900
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Canaccord Genuity Limited
Nominated Adviser and Joint Broker to Bellzone +44 (0)20 7523 8000
Andrew Chubb/Tarica Mpinga
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Renaissance Capital Limited
Joint Broker to Bellzone +44 (0)20 7367 7777
Rob Edwards
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Tavistock (UK)
Jos Simson/Mike Bartlett +44 (0)20 7920 3150 / +44 (0)7899 870 450
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About Bellzone Mining Plc
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Bellzone Mining plc is an exploration and resource development company with iron ore and nickel/copper permits in the Republic of Guinea, West Africa. Kalia Mine Project is the Company's flagship project with a resource of 6.16bt of magnetite. The ForΓ©cariah iron ore mine commenced production in May 2012 and is a joint venture between Bellzone (50%) and China International Fund Limited (50%).
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www.bellzone.com
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