Savannah Resources Plc (LON:SAV) told investors that three applications for mining leases have been submitted to the Ministry of Mineral Resources and Energy in Mozambique, for the Mutamba heavy mineral sands projects.
Mutamba, which is being evaluated in a consortium with Rio Tinto, would likely have a 25-year life if the mining leases are confirmed.
READ: Savannah Resources all set to lead the lithium charge in Portugal
The three licence applications cover some 417 square kilometres hosting the Jangamo, Dongane, Ravene and Chilubane deposits, and it is expected to take up to six months for the ministry to respond to the applications.
"The submission of the mining lease applications is a key milestone and a great start to 2018,” said David Archer, Savannah chief executive.
“This is the final formal step in the process of securing long term mining leases over globally significant deposits of heavy mineral sands.
READ: Savannah delivers 3.2 mln tonne maiden lithium resource at Mina do Barroso
“This follows the commissioning of the pilot processing plant in Q4 2017 which will be used to produce concentrate as a part of the Pre-Feasibility Study which is currently underway.”
Archer added: "We believe our timing means we are well placed to take advantage of the increasing global demand for titanium feedstocks."