New Minister appointment and Regional support for Ngualla

Peak Resources is pleased to note the appointment of the Honorable Angellah Kairuki as the new Minister of Minerals in Tanzania. At the swearing in ceremony for new ministers in Dar es Salaam on Monday 9 October the Honorable Minister stated that her top priority was to improve relations with investors with a view to ensuring that the mining sector as a whole contributes to its full capacity to Tanzania’s economic growth.

The Minister also took the opportunity to reassure that the prevailing investment climate in Tanzania is truly investor-friendly and that the Tanzania government remains ready to receive prospective investors with an open mind. The Company also refers shareholders to the video interview released on 26 September 2017 by Songwe Regional Commissioner the Honorable Chiku Galawa following a meeting with Company representatives. The Company’s Ngualla Rare Earth Project is located within the Songwe Region in Tanzania. In the interview the Honorable Chiku Galawa expresses her support for the positive economic and social changes that the development of the Ngualla Project will bring to the Songwe community and region including construction of an access road and infrastructure, direct and indirect employment and other business opportunities. She also commends the level of transparency that the Company has demonstrated in its dealings with the Songwe community and its commitment to build a processing plant at Ngualla in adherence with the requirements of the laws of the country. She urges her fellow Songwe residents to give support to the Company for the development of the Project.

 

The Company is pleased to have the support of the Honorable Chiku Galawa and looks forward to working with the Regional Commissioner and her team to advance the project.

Peak Resources Chief Executive Officer Rocky Smith said “The positive words from the new Minister comes at an opportune time for Peak as we advance discussions on the Special Mining License application for Ngualla.  We look forward to working with the Minister to develop the Ngualla Project on a win – win basis for all stakeholders.”

Published: Oct 16th, 2017
Source: Peak Resources

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