Licence pulled for Barrick-Glencore JV nickel project

A joint venture for a nickel project between miners Glencore and Barrick Gold has seen its retention licence revoked by the Tanzanian government, which has undertaken new regulations
Licence pulled for Barrick-Glencore JV nickel project Licence pulled for Barrick-Glencore JV nickel project Licence pulled for Barrick-Glencore JV nickel project Licence pulled for Barrick-Glencore JV nickel project Licence pulled for Barrick-Glencore JV nickel project

Staff reporter

The retention license for Kabanga, located in northwestern Tanzania, was one of 11 that had licences revoked under outlines approved in January, which the government reportedly said will provide the best economic benefits for the country's natural resources industry.

In response to a request for comment from Mining Magazine, a Barrick spokesperson confirmed that the joint venture has applied for a prospecting licence covering the same areas as that encompassed by the retention licence.

No timeline for receipt was provided; though, once issued, the approval would be valid for four years. The current licence the JV held carried a May 2019 expiration.

Companies receive retention licences alongside their respective prospecting licence once a mineral deposit is identified but development cannot move forward at the time due to market conditions or other factors.

The undeveloped Kabanga nickel project site is in the Kagara region of the country, southwest of Lake Victoria in the Ngara District.