Regency Mines PLC (LON: RGM) has reported a positive outcome from the Warden’s Hearing in Papua New Guinea in relation to its Mambare nickel project. Regency’s joint venture partner attended the hearing.
The Warden's Hearing is an important milestone in the process of applying for a mining licence to conduct a direct shipping ore operation over a portion of the Mambare nickel-cobalt project in Papua New Guinea, and is considered a broad analogue to local community planning approval in the UK.
Currently, the Mambare joint venture partners are progressing renewal of the existing exploration licences in parallel to advancing the mining license application, which is intended to take the project to a fundamentally new level of development.
Official confirmation of the Warden Hearing outcome is expected in due course.
Mambare currently boasts a resource of 162.5mln tonnes of 0.94% nickel and 0.09% cobalt, amounting to 1.53mln tonnes of in-situ nickel and 146,000 tonnes cobalt.
The Mambare project site is located near the village of Botue, approximately 90 kilometres northeast of Port Moresby. The area is linked to Popondetta and Oro Bay by gravel and sealed roads.