StockMarketWire.com - URU Metals said it was in the process of requesting a renewal of mining rights for the Zebediela nickel project in South Africa.

The company had in November 2016 successfully renewed prospecting rights that make up Zebediela, but only for an additional two years.

URA said the government had completed a site visit, a pre-condition of any prospecting rights renewal process.

It had also granted the renewal 'in principle' for prospecting right 148PR, the right which formed the primary prospecting right over all known mineralisation.

However, the right had not yet been counter signed by URU and the government -- and the renewal period would only commence upon signature of the renewed licences, which was expected to occur in November 2018.

URU also said it also understood that the processing of prospecting right applications and renewals had been delayed due to the prolonged closure of a regional office.

An application had been made to append licences 1074PR and 11921PR to 148PR.

The application would be processed once the execution of the renewals had occurred, which would have the effect of consolidating the prospecting rights into a single prospecting right 148PR.

URU said it had received an indication from the department of mineral resources that the rights would be renewed for a further period of two to three years

It expected the consolidation process to be completed by January 2019.




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