- Tombador Iron (TI1) has been granted a mining concession for its Tombador Project in the State of Bahia, Brazil
- The granting of the concession by the State’s Ministry for Mines and Energy has been labelled a “key milestone” by the company
- Next steps will be to obtain an environmental operating licence from the Department of Environment of the State of Bahia
- Once that licence is locked in place, Tombador can commence production at the project with plans to produce the first hematite iron product by the end of June
- Company shares have jumped up 10 per cent, trading at 8.8 cents per share
Tombador Iron (TI1) has been granted a key mining concession for its Tombador Project in Sento Se, in the State of Bahia, Brazil.
The granting of the concession by the State’s Ministry for Mines and Energy has been labelled a “key milestone” by the company.
It also officially transforms the Tombador exploration tenement to a mining
concession, a pleasing result for the company.
“Tombador Iron is delighted to note the grant of the mining licence for the Tombador Iron Project,” Tombador Iron CEO Gabriel Oliva said.
Next steps for the company will be to obtain an environmental operating licence from the Department of Environment of the State of Bahia.
Once that licence is locked in place, Tombador can commence production at the project with plans to produce the first hematite iron product by the end of June.
“With this key milestone achieved, the company continues to guide towards first production from our high-grade hematite Fe product before the end of this quarter,” Gabriel added.
Following today’s positive update, shares in Tombador Iron have jumped up 10 per cent to trade at 8.8 cents per share at 1:52 pm AEST.