A court petition seeking to stop exploitation of multi-billion dollar mineral deposits at the Coast has been withdrawn, paving the way for full exploration of a site believed to have the potential to earn the country Sh270 billion ($3 billion).
Petitioners in the suit filed by the Kaya Mrima Community Group have withdrawn the dispute according to court documents seen by the Business Daily, allowing Cortec Mining to prospect for the pricey niobium and rare earth oxide (REO) minerals.
Moses Masibo, the acting commissioner for mines said Cortec would continue exploration of the minerals in the area, as its parent company, Pacific Wildcat, issued a statement informing investors of the area’s ‘significant potential.’ read on: http://www.businessdailyafrica.com/Corporate+News/-/539550/1237134/-/s6qwpc/-/index.html
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