DNI METALS INC. (DNI: TSX-V) / (DG7: Frankfurt)
TORONTO,
July 22, 2015 /CNW/ - DNI Metals Inc.
"DNI" is pleased to announce that it has been granted full
commercial Mining Licence ("Permis de Exploitation" or "PE")
over its Vohitsara graphite project in Madagascar. Originally an artisanal mining
permit ('PRE') at the time of the transaction, the Mining permit
was granted by the Madagascar
Minister for Mines through the national mining cadastre office
("Bureau du Cadastre Minier de Madagascar" or "BCMM").
The BCMM is the government agency responsible for administrative
oversight of all mining tenements in Madagascar.
The obtaining of a full PE marks a significant milestone for DNI
in Madagascar; as it allows DNI to
move to full commercial production at its option, subject to
completion / fulfillment of the requisite environmental impact and
social responsibility ("EIE" & "CSR") studies and
obligations.
Neither of these requirements are onerous and DNI will be moving
to fulfill these requirements concurrent with its upcoming
fast-track exploration and development programme for the Vohitsara
Project.
DNI's Mining (PE) Licence has a term of 40 years and is fully
renewable. The following table sets out the license
types in Madagascar.
|
Licence
Type
|
PRE
|
PR
|
PE (DNI
License)
|
|
Licence
Description
|
Artisanal Mining
Licence
|
Exploration
Licence
|
Mining
Licence
|
|
Term of
Validity
|
8 Years
|
5 Years
|
40 Years
|
|
Renewal
|
4 years –
multiple
|
3 Years x
2
|
20 Years -
Multiple
|
|
Eligibility
|
Malagasy
Nationals
|
All Local
Entities
|
All Local
Entities
|
|
Maximum Size
(km2)
|
100
|
1,000
|
1,000
|
|
Rights
Conferred
|
Exploration &
Mining
|
Exploration
|
Exploration &
Mining
|
|
Sale of
Mineral
Products
|
Yes
|
No
|
Yes
|
|
Restrictions
|
Maximum 20 Workers /
No
Mechanised Mining Operations
(Artisanal Only)
|
No Commercial
Mining Allowed
|
Full Commercial
Mining
Allowed
|
|
Environmental
|
Simple Preliminary
Study
(P.E.E.)
|
Simple
Preliminary
Study (P.E.E.)
|
Full Impact Study
(E.I.E)
|
Dan Weir, CEO, commented, "We
were attracted to Madagascar
because it is known for its Large Flake, High Quality Graphite and
because Madagascar has a
world-class Mining Code. Additionally, the area in which our
Project is located contains excellent infrastructure and port
facilities and the mineralisation itself is hosted in soft
'free-dig' material that greatly facilitates commercial extraction
and processing.
Having a full commercial mining permit at this stage gives DNI a
significant advantage to advance its graphite production plans in
Madagascar."
DNI - TSX Venture
DG7 - Frankfurt
Issued: 29,186,204 common shares
We seek Safe Harbour. This announcement includes forward
looking statements. While these statements represent DNI's best
current judgment, they are subject to risks and uncertainties that
could cause actual results to vary, including risk factors listed
in DNI's Annual Information Form and its MD&A's, all of which
are available from SEDAR and on its website.
SOURCE DNI Metals Inc.