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Tanzanian Royalty Exploration Corporation (the “Company”) is pleased to announce the signing of an Agreement for the Access and Mineral Operations at the Kigosi Project (the “Agreement”). The Agreement has been signed by the Ministry of Natural Resources and Tourism and by the Company. The Kigosi Project is a joint project comprising State Mining Corporation (“Stamico”) on behalf of The Government of The United Republic of Tanzania with 15% and the Company, where the Company also represents its underlying contracts with local Tanzanian companies.
On behalf of the Project, the Company has further lodged applications for a Certificate of Environmental Compliance after having undertaken a full Environmental and Social Impact Assessment study which was undertaken by the Environmental Association of Tanzania (ENATA) and approved by the National Environment Management Council (NEMC) at the Project.
The Company has a number of projects at various stages of development and is proud that it is in partnership with Stamico on behalf of the Government of The United Republic of Tanzania and the people of Tanzania on three key Projects of Kigosi (Stamico 15%); Buckreef (Stamico 45%); and Northwestern Base metals Company Limited (Stamico 15%).
Chairman of The Board of Directors, Joseph K. Kahama, said that the signing marks an important day in the history of the company and for its commitment in partnering with the people of Tanzania who are 15% partners in the Kigosi Project. "We always strive seriously to take our partnership with the people of Tanzania to greater heights and together work towards socioeconomic development of our country", he said.
Respectfully submitted,Joseph KahamaChairman and Chief Operating Officer (Tanzania)
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