BHP-Blackthorn Zambia License Cancellation Reversed
05 Septiembre 2010 - 7:53PM
Noticias Dow Jones
Tenure on the Mumbwa copper-gold project by a joint venture of
BHP Billiton Ltd. (BHP) and Blackthorn Resources Ltd. (BTR.AU) has
been reconfirmed following the apparent cancellation of a
prospecting licence by Zambia's government.
Zambia's Ministry of Mines and Minerals Development wrote to BHP
last week cancelling the license, saying that there was a military
security zone in the area.
However, the Ministry has since confirmed in writing that the
decision, by the director of its Geological Survey Department, has
been reversed.
BHP is the holder of the prospecting licence and has a 40% stake
in the Mumbwa JV.
Scott Lowe, Managing Director of Blackthorn, said the
cancellation was a "hiccup" and not representative of government
regulation in Zambia, considered one of Africa's more stable mining
investment destinations.
"We had no advance warning and the (mines) minister had no
knowledge of this," he said. "Within a department you can have
someone who makes an error or acts outside of their authority."
-By David Fickling, Dow Jones Newswires; +61 2 8272 4689;
david.fickling@dowjones.com
Brightstar Resources (ASX:BTR)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Brightstar Resources (ASX:BTR)
Gráfica de Acción Histórica
De May 2023 a May 2024
Real-Time news about Brightstar Resources Limited (Australian Stock Exchange): 0 recent articles
Más de Blackthorn Resources Artículos de Noticias