| Bonaparte gets news licences for marine phosphates |
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| Written by Staff Reporters | |
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Bonaparte Diamond Mines NL this week announced the issue of four new Exclusive Prospecting Licences (EPLs) for marine phosphate exploration off the coast of Namibia.
The new EPLs cover a collective area of 4 000 km2 and have been issued for an initial period of three years to July 2011. These EPLs are held by the Bonaparte Tungeni Joint Venture (JV), which currently holds the 1 000 km2 EPL 3323 licence in the company’s Meob Project area.
Managing director Mike Woodborne said: “We are delighted
with this development which comes as we are about to commence with
systematic marine sampling operations for phosphate resource
delineation in our Meob Project area. A cohesive set of tenements
located in the defined phosphate provinces off Namibia is a key
component of our programme for establishing marine phosphate mining in
Namibia over the long term, in close collaboration with our Namibian
partners.”
Namibian partners Tungeni Investments cc hold a 30% interest in the JV company, while Bonaparte holds a 70% interest and is the project operator. The JV also has pending applications for a further five EPLs covering an additional area of 5 000 km2 of phosphate exploration area identified within the regionally mapped zones of increased phosphate concentration off the coast of Namibia. Two of the new EPLs covering 2 000 km2 lie in the Meob Project area that includes EPL3323, which is located in the marine phosphate concentration zone south of Walvis Bay. The other two new EPLs covering 2 000 km2, are in the Rocky Point Project area which incorporates the core of the marine phosphate zone lying north of Walvis Bay. The EPLs are all subject to standard terms and conditions issued by the Namibian Ministry of Mines and Energy including payment of an annual licence fee of N$10 000, issuing an approved environmental management contract prior to commencement of works and completion of the approved work programme. The EPLs may be renewed for a further period of two years upon expiry of the original term, subject to application. |
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