Giyani Metals Corp (TSX-V:EMM, OTC:CATPF) announced that it has secured a 50-year Special Economic Zone (SEZ) Investor License for its battery-grade manganese commercial plant in Botswana, awarded to its subsidiary Thabatala Technology Company.
The Commercial Plant will be situated adjacent to the K.Hill manganese mine site near Kanye, Botswana, and is designated as a Single Factory Special Economic Zone.
As an SEZ Investor License holder, Giyani will enjoy various fiscal benefits, including reduced corporate tax rates, zero-rated VAT on export raw materials, and operational support from the Botswana Government.
The SEZ license is valid for up to 50 years with options for renewal.
Giyani Metals CEO Charles Fitzroy described the achievement as a “transformative step” for the company as it works towards becoming a leading producer of battery-grade manganese.
“This is a testament to Botswana’s commitment to fostering innovation, the benefits of which will enhance our project’s viability and facilitate a sustainable partnership with the local community,” Fitzroy said in a statement.
“With the addition of significant benefits such as significant corporate tax reduction and fast-tracked issuance of permits for skilled personnel, this licence not only supports sustainability ambitions but has clear economic and operational benefits that will ultimately catalyze Commercial Plant construction.”
He added that the company’s focus is now on securing the remaining sectoral permits and licences required to commence project activities.