Rome Resources Plc has settled with the Mozambique government over a 2011 mining concession expropriation. The agreement grants the company a 30% carried interest in five exploration licenses covering 59,733 hectares. While lacking immediate cash compensation, this settlement holds potential future value in graphite mining. The company is also focusing on its exploration work in the DRC.
Rome Resources Plc has successfully settled a dispute with the Mozambique government concerning the expropriation of a mining concession that occurred in 2011. Under the terms of the agreement, Rome will hold a 30% carried interest in five new research and exploration licenses in Mozambique, spanning approximately 59,733 hectares. Although this settlement does not include immediate cash compensation, it offers the potential for future value through the development of these new licenses, particularly in the graphite mining sector.
The company aspires to realize value from these licenses via prospective liquidity events, though the certainty of monetization remains unguaranteed. Alongside this development, Rome Resources maintains its focus on exploration activities in the Democratic Republic of Congo (DRC), more specifically at the Bisie North site.
Rome Resources Plc, previously known as Pathfinder Minerals, primarily concentrates on the exploration of tin and base metals in the DRC. The company also shows a keen interest in graphite and heavy mineral sands, as demonstrated by the recent settlement involving the new exploration licenses in Mozambique.
In summary, Rome Resources Plc’s recent settlement with the Mozambique government marks a significant development for the company, as it acquires valuable exploration licenses. Although immediate financial compensation is absent, the potential for future value in graphite mining remains promising. Despite challenges, the company’s ongoing exploration activities in the DRC continue to highlight its resilience in the mining sector, supporting its overall growth strategy.
Original Source: www.tipranks.com
