Bellzone Mining PLC (AIM:BZM) Kalia Mining Convention ratified by Parliament

 

Bellzone Mining plc (“Bellzone” or the “Company”) (AIM: BZM) is pleased to announce that on 5 July 2018 the National Assembly of The Republic of Guinea has duly and unanimously ratified the Addendum to the Kalia Mining Convention (L’Avenant n°1 à la Convention de Base) (“Addendum”) which was signed on 9 November 2017.

The Addendum updates the Mining Convention (Convention de Base) (“Convention”) for its Kalia Mine and associated infrastructure, which was originally signed on 26 July 2010 and promulgated by Presidential Decree on 2 September 2010.

The Effective Date (“Date d’Entreé en Vigeur”) of the Addendum according to its terms will occur immediately after ratification by the National Assembly (completed) and the Supreme Court (“Cour Suprême”) and the signature by the President of The Republic of Guinea of the Decree promulgating the Addendum into law. Both remaining procedural steps are expected to follow shortly and the timetable with respect to Bellzone’s workplan obligations will be referenced from the Effective Date. Notwithstanding the extended Addendum timetable milestones from the Effective Date, the Company continues to press on with the preparation of the ferronickel bulk sample with the aim of achieving conclusive feasibility study results by the end of 2018.

Bellzone wishes to place on record our deep appreciation for the strong support of the Guinea Government as a whole, as well as the President, Secretary-General and Deputies of the National Assembly. In particular, we are immensely grateful for the consistent commitment of the Minister, Secretary-General and Staff of the Ministry of Mines & Geology, as well as the Governor, the Prefect and community of Faranah where our Kalia mine is located.

 


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