Montero receives second instalment from Tanzania for Wigu project expropriation
TSX-V-listed Montero Mining and Exploration’s legal representatives in Tanzania have received $8-million in cash, the second instalment of the $27-million settlement between the company and the country in connection with Tanzania’s expropriation of Montero’s Wigu Hill rare earth element project, as announced last year. The final instalment of $7-million is due to be paid on or before February 28.
TSX-V-listed Montero Mining and Exploration’s legal representatives in Tanzania have received $8-million in cash, the second instalment of the $27-million settlement between the company and the country in connection with Tanzania’s expropriation of Montero’s Wigu Hill rare earth element project, as announced last year. The final instalment of $7-million is due to be paid on or before February 28.
