ASX explorers caught up in Guinea permit purge
Two Australia-listed mining companies have been caught up in a sweeping revocation of exploration permits by the Guinean government, as the West African nation moves to tighten control over its natural resources sector. Predictive Discovery said on Wednesday it had become aware that its Argo and Bokoro exploration permits were among more than 100 cancelled by Guinea’s Ministry of Mines and Geology (MMG) on Monday evening. The company said it had not been formally notified by the government but would appeal the decision in accordance with the country's Mining Code.
Two Australia-listed mining companies have been caught up in a sweeping revocation of exploration permits by the Guinean government, as the West African nation moves to tighten control over its natural resources sector.
Predictive Discovery said on Wednesday it had become aware that its Argo and Bokoro exploration permits were among more than 100 cancelled by Guinea’s Ministry of Mines and Geology (MMG) on Monday evening. The company said it had not been formally notified by the government but would appeal the decision in accordance with the country's Mining Code.
