[miningmx.com] — GOLD exploration company Auryx Gold said on Thursday that it has been awarded five new prospecting licenses in Namibia.
The company, which is listed in Toronto and on the Namibian Stock exchange, now holds a total of 11 prospecting licenses that cover about 900,000 hectares – an area more than eleven times the size of New York City.
It said the new licenses cover around 500,000 hectares.
Auryx chief executive officer Tim Searcy said the granting of the licences confirms the Namibian Ministry of Mines and Energy’s comments that no pre-existing prospecting applications would be affected by the proposed change toward government exclusivity.
The Namibian government earlier this year said it planned to introduce new mining legislation later in the year that would target strategic resources and lead to increased state participation in the mining sector.
“We welcome the government’s stance on existing tenure and believe this demonstrates the Namibian Government’s appreciation of foreign investment and their intent to manage natural resources pragmatically,” he added.
