Liontown Resources Secures Ibaga Project In Tanzania
News: Australian mining company Liontown Resources has secured the Ibaga copper and zinc project in northern Tanzania. The company has signed option agreements to acquire a 100% interest in the project. As part of the transactions, the company would have to pay an initial fee of US$230,000 in addition to annual payments made over the option period of 2-5 years. The company would also pay royalties ranging up to a 1% gross royalty in addition to the statutory 4% government royalty. The option agreements would be exercised contingent to completion of due diligence by Liontown on the project.