Baobab Resources PLC Tete Mining Title Granted (0330A)

TIDMBAO

RNS Number : 0330A

Baobab Resources PLC

17 December 2014

BAOBAB RESOURCES PLC

TETE MINING TITLE GRANTED

17 DECEMBER 2014

HIGHLIGHTS

-- Mining Concession granted by the cadastre division of the National Department for Mines ('NDM'), Mozambique, for the Tete pig iron and ferro-vanadium project;

-- The Mining Concession is valid for a period of 25 years and renewable for a further 25 years; and

-- Baobab is also working with the DNM to finalise a Mining Contract for presentation to the Council of Ministers which is on target for receipt before the end of January, 2015.

Baobab Resources Plc (AIM: BAO) ('Baobab' or the 'Company'), is pleased to announce that its Mining Concession overlying the Tete pig iron and ferro-vanadium project has been granted by the cadastre division of the NDM and has been assigned concession number 7055C. The Mining Concession is valid for a period of 25 years and renewable for a further 25 years.

In parallel, the Company is working with the NDM to finalise a Mining Contract for presentation to the Council of Ministers. Baobab filed its Mining Title Application and submitted a Mining Contract for NDM review on 19 November, 2014. The Company continues to target receipt of its Mining Contract before the end of January, 2015.

ENQUIRIES

 
 Baobab Resources 
 Ben James: Managing Director     [phone] 
 Jeremy Dowler: Chairman          [phone] 
 Frank Eagar: Finance Director    [phone] 
 
 Canaccord Genuity Ltd 
 Neil Elliot                      [phone] 
 Chris Fincken 
 
 Tavistock 
 Emily Fenton                     [phone] 
 Nuala Gallagher 
 

ABOUT BAOBAB RESOURCES PLC

Baobab Resources is an exploration and development company focused on the Tete pig iron and ferro-vanadium project in Mozambique, in which the International Finance Corporation holds a 15% participatory interest. The Company has been listed on the AIM of the London Stock Exchange (ticker BAO) since 2007.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCFDLFFZLFZFBV