Australia-listed Strandline Resources (ASX: STA) has submitted the mining license application for the Fungoni Project to the Ministry of Energy and Minerals of Tanzania.
The Fungoni Project, located 25km south of Dar es Salaam port, is expected to produce saleable titanium and zircon mineral sands.
Adjudication of the mining license at Fungoni application will be undertaken by the Ministry of Energy and Minerals and the newly-appointed Commission under the President‘s office.
Strandline Managing Director Luke Graham commented: “This project will deliver a host of economic and social benefits for Tanzania. It will also pave the way for the development of Strandline’s other mineral sands projects in Tanzania.”
The principal activity of the company is mineral exploration and evaluation in Tanzania and Australia, with a focus on mineral sands, operating a series of low-cost expandable mining assets.
In Tanzania, in addition to Fungoni, the company’s most advanced project, Strandline holds 100% owned land tenement package stretching 350km along the prospective Tanzanian coastline and is aggressively exploring for high unit value HMS deposits.
Strandline explains that, although the Tanzanian Government had passed three bills of legislation in July 2017 rebalancing control of the natural mineral products between industry and the State, many of the amendments have no significant impact on the viability and operational plan of the Fungoni Project.
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