Small extract: ... Maine says there are many opportunities in...

Small extract:

... Maine says there are many opportunities in East Africa both due to the potential wealth of unexplored deposits and the less burdensome regulatory environment.

“Prior to Peak’s identification of the potential of the Ngualla project in Tanzania it was only seen as having potential as a phosphate mine but Peak’s exploration discovered very, very large deposits of medium grade rare earth deposits, which are used in electronics, batteries, hybrid cars and wind turbines,” Maine says.

He describes the regulatory environment in Tanzania as “fairly conducive to getting on the ground and getting things done”. Of Peak Resource’s discoveries at Ngualla he says it was advantageous the company “was able to get in and find it without having to spend years sitting on its hands waiting for clearances”.

There are also “challenges that come with working in an economy at that stage of economic development”, he says, including “making sure the company is doing the right thing around anti-bribery and corruption laws”. But on balance Maine regards Tanzania as “a great place with beautiful people” saying “it’s good to be able to contribute to development there”....

Ref: AFR 23 Feb

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