Equatorial Guinea aims to a successful opening to private investment of its mining industry
The country opens its doors to foreign investment through a Mining Licensing Round with competitive terms to new investors applying by the end of June 2019.
Malabo, 05 Feb 2019. The Government of Equatorial Guinea (EG) opens this year betting for success on its first Mining Licensing Round “EG Ronda 2019 Mining Round”, to be announced by the minister of Mines and Hydrocarbons of EG, Gabriel Obiang Lima, on February 5th , during the “Investing in African Mining”, Indaba event, in Cape Town, South Africa.
“We want to welcome all investors from the mining industry to join us in developing our mineral resources for the benefit of our country and our international partners, in an environment of clear and stable legislation, fantastic incentives for the companies and an extraordinary untapped potential of our benevolent geology”, said H.E Gabriel Obiang Lima.
“Those who accept our invitation and apply before the 1st of July 2019 (deadline date) will be able to negotiate exploration contracts on flexible terms specifically designed for this first licensing round”, Obiang Lima added.
The Ministry of Mines and Hydrocarbons (MMH) of EG officially invites all companies active in the minerals industry to participate in the “EG Ronda 2019 Mining Round”, through which the MMH is offering competitive terms to new investors ranging from negotiable royalties of up to 5% and income tax holidays for the first three (3) years of production.
Indaba will serve as the platform where Obiang Lima will detail Equatorial Guinea’s wide variety of mineral potential, specifically in the mainland Rio Muni, and will explain how this round is a rare opportunity for investors with the appetite to explore in an unexplored greenstone terrane with high potential for gold, PGE’s, columbo-tantalite, base metals, diamonds, bauxite, heavy mineral sands and iron ore.
Rio Muni Mainland Map. Government of EG Copyright.
On this round, there are three different Mining Contracts classified as: Mineral Exploration Contracts; Mineral Prospecting Contracts; and Mineral Exploitation or Production Contracts, which are available for download as PDF files from the official informative portal www.egronda.com.
On this website, investing companies will also find the guidelines to submit applications for a Contract under the banner of the “EG Ronda 2019 Mining Round”, which submission period finishes on July 1st 2019. The MMH hopes that the first round of Exploration and/or Prospecting Contracts will be granted after the first semester of 2019.
The investors are also able to visualise on www.egronda.com a technical database of exploration works carried out since the 1970’s on the Rio Muni area of reports and as a comprehensive online GIS (over 12,500 geochemical analyses; Geology; Airborne Magnetics; Radiometrics & EM).