StockMarketWire.com - Savannah Resources said its Mutamba mineral sands joint venture in Mozambique with Rio Tinto had been awarded a third mining concession from authorities there.

The new mining concession, called 9228C, was valid up until 3 September 2044, with the possibility of an additional 25-year extension.

Mutamba contained an indicated and inferred mineral resource of 4.4bn tonnes, grading 3.9% total heavy minerals.

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