remove the biggest risk to KP2
The Minister reaffirms the validity of the Company’s mining tenement titles and the Mining Convention
which is the operating agreement between the Company and the Government
confirm major milestones that coming up.
The Ministry expresses support for the Company’s progress towards the development milestones
announced on 8 August 2023, which includes SEPCO and the Summit Consortium financing partners
committing to:
- Site visits to Kola during the months of August 2023 and September 2023.
- Completion of the engineering design works required to support an EPC contract proposal before
the end of December 2023.
- EPC Contract offer to be made to the Company during January 2024.
- The financing proposal for the full construction cost of Kola will be provided to the Company by the
Summit Consortium within six weeks of EPC terms being finalised.
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