TAWANA RESOURCES NL - Inter-Ministerial Concessions Committee Constituted to Negotiate Tawana's Mineral Development AgreementRelease Date: 23/02/2015 11:45:00 Code(s): TAW PDF(s):
Inter-Ministerial Concessions Committee Constituted to Negotiate Tawana's Mineral Development Agreement
Tawana Resources NL
(Incorporated in Australia)
(Registration number ACN 085 166 721)
Share code on the JSE Limited: TAW
Share code on the Australian Stock Exchange Limited: TAW
(“Tawana” or “the Company”)
Inter-Ministerial Concessions Committee Constituted to Negotiate Tawana’s
Mineral Development Agreement
Tawana Resources NL (‘Tawana’ or ‘the Company’) is pleased to advise that the
President of the Republic of Liberia, Ellen Johnson Sirleaf has officially appointed
an Inter-Ministerial Concessions Committee (IMCC) to negotiate Tawana’s Mofe
Creek Mineral Development Agreement (MDA).
This represents a major milestone and strategic step forward in the development of
Tawana’s Mofe Creek project (the Project), and demonstrates the technical and
commercial viability and sustainability of the Project.
The IMCC will be chaired by the Minister of Lands, Mines, and Energy, and further
constituted by a co-chair from the National Investment Commission, a legal advisor
to the President and ministers from the Ministries of Labour, Justice and Finance,
as well as the Environmental Protection Authority, as called by the Chair.
Tawana’s CEO & Executive Chairman Mr Wayne Richards said, “This is a great
outcome for all stakeholders in the advancement of our Project. Our interaction with
the Liberian government over the past six months has been very positive and
rewarding. We are proud to be developing a project within Liberia with the full
support of the government and the communities within our Project area and look
forward to negotiating and finalising the MDA over the coming months.”
The role of the IMCC in the MDA process is to oversee and coordinate the entire
investment concessional review process and its due diligence functions, for the
benefit of all parties. All natural resource concession agreements in Liberia,
including mining concessions, are negotiated by the IMCC.
The MDA process began with the convening of the Inter Ministerial Technical
Committee (composed of technicians from several agencies, including the Ministry
of Lands, Mines, and Energy) last year, and subsequent site visits to the Project.
The process has now advanced to the next level of negotiation via the appointment
of the IMCC. The culmination of the MDA process will see a bill passed through
parliament for the Company’s concessional rights to build, operate and sustain a
mining and logistics operation within the Grand Cape Mount County.
This appointment of the IMCC to negotiate Tawana’s MDA coincides with Tawana’s
redeployment of key personnel into Liberia this month.
For further information, contact:
Executive Chairman and CEO
Ph: +61 8 9489 2600
23 February 2015
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
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