Moz mining Law

Originally posted by 1973 ↑

Hi Prime1,

Could you please provide an update on how SYR is going with the updated

"MOZAMBIQUE MINING LAW NO 20/2014, DATED 18TH AUGUST."

In particular Article 5 which I have enclosed below. So how is your MINING EXPERIENCED MD going with obtaining the following approvals?

Article 5
(Acquisition of rights)
1. The right to carry out a mining activity is obtained pursuant to the following mining holding permits:

a) Prospecting and Research Licence;

b) Mining Concession;

c) Mining Certificate;

d) Mining Pass;

e) Mining Treatment Licence;

f) Mining Processing Licence;

g) Licence for the Commercialisation of Mining Products.

2. The following permissions are considered as authorizations:

a) Extract mineral resources for the construction of public works;
b) Geologic Investigation;
c) Removal of fossils and archaeological finds;

I did also see the requirement SYR will also be required to list on the local MOZ exchange. Given the MD is a salesman /fluffer/stockbroker, he might actually be able to help with that?

Surely as an ex-broker he would know all the local broking houses, all the political heavy weights and would know the MOZ Mining Law 20, like the back of his hand? If not, you guys could be in for a rough ride? Surly not, as Credit Suisse would have completed all this valuable research before pumping SYR to $6

Clearly you SYR holders will be in great hands with your experienced MD/Credit Suisse and even more so with all the certainly these new laws will bring. Oh thats right, did they come into force today.......

Help us out Prime1, as we need your help if all these questions and you are clearly the African Mining Act expert.

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Every mining company in Australia has to get a raft of permits under State legislation to commence production. This is just standard fare to get a mining project into production. And the responsibility to get these permits typically lies with the General Manager, Project Director, and his team of consultants. ... not the MD.

What you are seeing is Mozambique tightening up its rules to reflect the same standards required by Aust/Sth Africa and Canada.

And new legislation typically takes months and years of preparation, consultation etc before it gets enacted. Mining companies would see these months and months ahead of them into force. So... there will be no surprises to SYR in any of this.

If you want to see a problem, you will find it. But meeting mining law requirements is run of the mill stuff for any mining company. It should also be noted that many successful mining company MDs in Australia are not mining professionals - what is most important is the experience and competency of the project team working for them. The MD is usually one level above the project implementation team. However, at the end of the day the MD does have to be a good manager...... of everything.... its a big ticket... and industry kudos only comes with successful project delivery.

Cheers
Gosouth