World Nations & Private Sector Set to Provide Malawi with over One Billion Dollars in Economic Development Funding
Britannia Mining Is Well Positioned – With Role to Play – As Malawi’s Mineral Sector is Expected to Substantially Contribute to the Economic Growth of the Country
Britannia Mining Plc, a UK based mining development company [recently merged with U.S. based Micron Enviro Systems (Symbol:MSVS) – pending shareholder ratification] announced today, that on the heels of the Malawi Economic Recovery Plan (MERP) being championed by Her Excellency, President Mrs. Joyce Banda – which has encouraged governments, donors and private firms to financially support the effort, the mineral sector will receive a substantial capital injection and Britannia’s primary asset, Britannia Malawi, is well positioned to play its role and potentially benefit significantly from the global agenda.
With our focus on developing first rate mining projects – a combination of stellar geology, logistics, patience, commitment, and funding are key to sustaining the process of establishing mineral resources,” stated Kenneth Roberts, CEO of Britannia Mining and Micron Enviro Systems. “We have developed, deployed, and delivered all of the above and more. However, what is more ‘telling’ than our project potential and staying power, is the amazing timing in which events have unfolded during the past year. Not just for Britannia, but moreover, for the country of Malawi.”
During 2012 Her Excellency Joyce Banda unexpectedly came into power. The Queen of England heralded President Banda at her Jubilee offering the preverbal olive branch in support of a new economic environment for the people of Malawi. U.S Senators began their descent into the country and nearly every major royal family, nation and political outfit around the world has begun jockeying into position around Malawi for involvement in developing its energy, minerals and resource rich topography.
The United State’s government agency (Millennium Challenge Corporation (MCC) will release a USD $350 Million compact grant to Malawi. The People’s Republic of China has earmarked USD $500 Million for the country. The World Bank has delivered USD $25 Million. Even companies such as Globe Metals and Mining – set to invest USD $272 Million (for mine construction in 2013) – have become very active in developing not only the Malawian economy, but likely, very prosperous mining operations as this African country [Malawi] is believed to be just as rich in minerals and resources as the rest of the continent.
Mkango Resources Limited recently announced an exciting find at its Songwe Hill rare earths project in Malawi. The firm has identified a NI 43-101 compliant mineral resource at nearly all depths of less than 200 m below the surface of the hill. This resource is estimated to be at 13.2 million tonnes grading at 1.62% TREO and further, 18.6 million tonnes at 1.38% TREO; the extent of mineralization being much greater than indicated in historical exploration data.
Now take Britannia’s historic iron ore mine as another example. Established in the late 1950’s by British Central Africa Company, Nthale was recently estimated to have close to 5 million tonnes iron ore just at the surface of a single body of ore. Being the first target identified within 20 sq km, the Nthale Hill orebody has been an actively mined artisanally for nearly half a century right up to the present day. Britannia Mining intends to ramp up activity and commercially mine this orebody with potential to yield between USD $500 and $700 Million. Since Britannia’s (U.K.) acquisition of the historical mining area, the exploration rights have been extended; a result of field exploration, where it is now believed that iron ore targets occur within a wider area of 650 sq km (251 +/= sq mi). Britannia has since invested significant capital into furthering its exploration by contracting expert geological manpower from overseas to provide an independent appraisal of the regional geological potential.
Since the instatement of Her Excellency President Mrs. Joyce Banda, both the country of Malawi, and its committed international investors – like Britannia Mining – are presumably set to thrive as the world’s attention becomes focused on the economic growth of Malawi; centered around its mineral capabilities.
Roberts continued, “Since our meeting with the High Commissioner for Malawi (last week Wednesday), His Excellency Mr. Bernard H. Sande, we strongly anticipate that Britannia Mining will be working very closely with the Government to expedite developing a number of iron ore projects in Malawi. We also have the geological insights from Bastillion Resources that lean towards significant resource potential at Nthale and beyond. We therefore expect these recent developments to push our strategy forward to further define iron ore in Malawi.”
- 3 Dec, 2012
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