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The Marampa project in Sierra Leone, West Africa, which is adjacent to UK iron ore producer London Mining’s operational site of the same name, has a total Jorc mineral resource of 681 million tonnes at grade 28.2% Fe.
“The granting of the mining licence is the last key hurdle for progressing the Marampa project to eventually become Sierra Leone’s third iron ore producer,” Tony Sage, executive chairman of Cape Lambert, said in a statement on Friday November 22.
The company was issued its environmental licence for the project in April 2013. The mining licence is the final key step in the permit process for Marampa.
Cape Lambert has a binding heads of agreement with African Minerals, which is approved will allow to export 2 million tpy of iron ore concentrate via the operational Pepel rail and port infrastructure.
African Minerals also has an option to purchase 2 million tpy of Marampa concentrate at the mine gate for the first three years of production.
Cape Lambert holds a number of interests in iron ore exploration projects in West Africa, including Kukuna and Rokel, also in Sierra Leone, and Sandenia in Guinea.
Australia’s Cape Lambert Resources said it expects to receive approval for its mining licence for its iron ore project in West Africa early in the second quarter of 2014.