Mining license granted to BMM
Council of Ministers of the Republic of Burundi has granted on Wendsday, 7th of May, an Exploitation permit for mining deposit Musongati in favor of the company Burundi Mining Metallurgy (BMM), whose majority owner, with 91 percent of shares, is Kermas Limited.
BMM was established for exploration and development of mining opportunities in Burundi. BMM started exploration in Burundi at the end of 2008, after Government of the Republic of Burundi issued an Exploration license and Presidential Decree granting to BMM exploration rigths for nickel, copper, cobalt and platinum-group of metals for the mining deposit Musongati. BMM has undertaken exstensive exploration which has resulted in JORC Competent Person Reports (CPR’s), JORC Mineral Resource Estimate reports (MRE) for the Musongati Laterite and Bancable Feasibility Report of the Musongati Laterite. BMM has also undertaken extensive multi-disciplinary studies by industry leading experts on the various aspects of the project.
Granted resources in Burundi have a reserve of minimum 150 million of Nickel ore. These resources are an excellent candidate for being the next big Ni world project and have a significant upside value in PGM, Co, Cu, and Fe.