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Katoro Gold mulling impact of new Tanzania laws on Imweru

The economic feasibility of Imweru is being re-modelled to assess the potential impact of the new legislation and mining regulations

Gold
Tanzania overhauled its mining laws last year

Tanzania-focused miner Katoro Gold PLC (|LON:KAT) is doing additional work on the pre-feasibility study at its Imweru gold project to include recent changes to the mining laws in the country.

All of the technical aspects of the PFS are now finished, said Katoro, but the economic feasibility of Imweru is being re-modelled to assess the potential impact of the new legislation and mining regulations.

READ: Katoro Gold to create digital map of Imweru prospect in Tanzania

Louis Coetzee, executive chairman, said: "Changes in the Tanzania mining legislation and associated mining regulations, recently released, has compelled the company to conduct further assessments to determine the extent to which the new legislation and regulations may impact the viability of the Imweru gold project.

“Work in this regard is nearing completion and a further update will follow shortly."

Imweru currently has a resource of 515,110 oz of gold.

Katoro Gold is a subsidiary of Kibo Mining PLC (LON:KIBO).

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Price: 0.95 GBX

AIM:KAT
Market: AIM
Market Cap: £1.71 m
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