Chilwa Minerals (ASX:CHW) said the mining development agreement process for the Chilwa critical minerals project started in Malawi, according to a Tuesday filing with the Australian bourse.
Company executives met with Malawian Minister of Mines to negotiate the agreement, which provides a fiscal and operating framework for the development of the project, the filing said.
Under the process, the company must upgrade a significant portion of its existing mineral resources to the measured and indicated category for mining optimization and design, and prepare economic studies based on new resources, revised costs, and updated mineral assemblage information, per the filing.
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