UNDERGROUND

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

Staff reporter
Licence pulled for Barrick-Glencore JV nickel project

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.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Magazine Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Magazine Intelligence team.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production

editions

Mining Magazine Intelligence Automation Report 2023

An in-depth review of operations using autonomous solutions in every region and sector, including analysis of the factors driving investment decisions