North River Resources Plc Namib Mining Licence Update (2823W)

TIDMNRRP

RNS Number : 2823W

North River Resources Plc

26 April 2016

North River Resources plc / Ticker: NRRP / Index: AIM / Sector: Mining

North River Resources plc ("North River" or the "Company")

Namib Mining Licence proposal submitted to Ministry of Mines and Energy

North River Resources plc, the AIM quoted resource company, wishes to advise that its 100% held Namibian subsidiary, Namib Lead & Zinc Mining (Pty) Limited, has submitted a formal proposal to the Namibian Ministry of Mines and Energy ("the Ministry") in respect of its Namib Project mining licence application

Mining Licence proposal submitted to Ministry of Mines and Energy

As previously announced, the Company advised the Ministry on 26(th) February 2016 of its acceptance of the supplementary conditions ("T&CS") to the Ministry's Notice of preparedness to grant the mining licence for the Namib Project of 28 January 2016. The Company has yesterday submitted in accordance with the T&Cs its formal proposal on the Company's structure and composition to address the Government of Namibia's objectives of poverty eradication by (i) providing an opportunity for local ownership of the Project (ii) participation by historically disadvantaged Namibians in the management of the Project and (iii) a corporate social responsibility strategy. The Notice makes provision for further engagement between the Ministry and the Company to seek agreement on final terms and conditions to be attached to the issue of a mining licence and the Company will provide further updates in due course.

**ENDS**

For further information please visit www.northriverresources.com or contact:

 
James Beams              North River Resources  Tel: +44 (0) 
                          Plc                    20 7025 7047 
Andrew Emmott / Ritchie  Strand Hanson Limited  Tel: +44 (0) 
 Balmer                                          20 7409 3494 
Jonathan Williams /      RFC Ambrian Limited    Tel: +44 (0) 
 Kim Eckhof                                      20 3440 6800 
 
 

About North River Resources: North River Resources (AIM ticker: NRR) is a multi-asset mining exploration and development company with projects located in Namibia and Mozambique. The Company's primary focus is bringing its flagship Namib project into production. The Namib project is the restart of a high grade zinc-lead underground mine located in Namibia.

This information is provided by RNS

The company news service from the London Stock Exchange

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April 26, 2016 02:00 ET (06:00 GMT)