Mozambique Mining: Deal done, Explorator to mine Manica gold on behalf of Xtract Resources

Explorator Limitada, a wholly-owned Mozambican subsidiary in of Britain’s Xtract Resources, has signed a new mining contract with Omnia Mining Ltd for the exploration of alluvial gold deposits in the Manica mining concession, according to a recent statement.

The statement said that Omnia Mining is a company with extensive experience that already operates in the province of Manica, and was hired to explore an area in the western region of the concession held by Explorator Limitada.

The contract stipulates that Omnia Mining will have to pay monthly amounts to Explorator Limitada that will be based on the results of the exploration of the deposits, and is authorised to start building dams and gravel processing units and will have to ensure that by 15 May it is processing a minimum of 100 tons of gravel per hour.

Omnia Mining has the exclusive rights to explore gold in the western half of the concession, and the contract is valid for a maximum period of 10 years or until the gold deposits are exhausted.

The mining of the eastern half of the Manica concession was contracted to Sino Minerals Investment Company, according to a statement released in October 2017. (macauhub)