Page 64 - pd296-August21-mag-web

AFRICA DOWN UNDER PREVIEW

Adavale warms to new

Tanzanian leadership

resident John Magufuli left a unique hole “I think a lot of foreign miners are finding economics are vastly improved.”
Pin Tanzanian politics when he passed that working with the Tanzanian Authorities Suluhu Hassan’s responsibilities include
away in March. has had an improvement. It’s an exciting overseeing a number of energy projects, in-
His at times populist, always Tanzania- resource-rich nation and Suluhu Hassan is cluding a hydro power plant.
first approach created tension with for- certainly enabling the progress of her coun- “President Suluhu Hassan has recently
eign investors in the mineral-rich East try and her people to obtain a solid advan- received some African development bank
African nation. tage for decades to come.” funding to upgrade that project,” Ritchie said.
His successor President Samia Suluhu Adavale started maiden drilling at its Ka- “That will provide a significant amount of re-
Hassan, who served under Magufuli, has banga Jirani nickel project ahead of sched- newable energy to the region.”
quickly stated her intentions to restore Tan- ule in June. Ritchie noted that some of the Ritchie is sharing the same sentiments
zania’s reputation as an accessible land- nearby development projects, which entered of others feeling welcomed by the new
scape for foreign investors. the pipeline under Magufuli, were already re- President, such as fellow ASX-listed junior
Adavale Resources Ltd chief executive ceiving the Suluhu Hassan effect. OreCorp Ltd which received a mining li-
Allan Ritchie believes Suluhu Hassan’s style “Kabanga Nickel [Ltd], our neighbour, cence for its Nyanzaga gold project in June.
of governing has already changed the op- signed an agreement where they would As part of this new emerging class of
portunities for those currently established in spend $US664 million to develop a mine,” Tanzanian explorers, Adavale’s spot in the
Tanzania. Ritchie said. yearbook will include the current drilling pro-
“It has the attention of G7-type nations “They will also build associated infrastruc- gramme targeting 3,000m across eight high
and big foreign mining groups who are find- ture, including a Class 1 ‘green’ nickel and priority targets.
ing Tanzania a more welcoming place to do PGE refiner smelter (see page 30). That will Another 12 targets are in the queue, pend-
business,” Ritchie told Paydirt. be about 100km up from our licences and ing the verification of data.
“It’s certainly getting some ESG ticks, that’s pretty exciting, to have that potential Despite the fast-paced approach to drill-
there’s a good future there. for Adavale, where our mineral resource ing, Ritchie wanted to stress the company

Burkina
Faso

West Africa’s

Newest

Unhedged

Gold Producer

West African Resources Ltd ACN 121 539 375
Phone: +61 8 9481 7344 ASX: WAF
info@westafricanresources.com
www.westafricanresources.com

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