UK-based Altus Strategies has announced it obtained a 10-year mining licence from the Moroccan Ministry of En-ergy Transition and Sustainable Development in relation to the Agdz copper-silver project.
Agdz is located some 14 km south-west of the Bou Skour copper-silver mine in Morocco’s eastern Anti-Atlas, the company said in a statement.
Steven Poulton, the chief executive of Altus Strategies said that the latest development marks “a notable milestone for the project. The 10 year licence provides long-term security of tenure for Agdz, where the Company has discovered a number of significant copper and sil-ver prospects. Agdz is one of 14 Moroccan projects to be vended by Altus to Eastinco subject to its proposed LSE listing.”
“Altus will hold royalties on all of the Moroccan projects, a royalty on a tantalum asset in Rwanda as well as 25% of Eastinco’s enlarged share capital with warrants to purchase up to an additional 10%,” he said.