AXMIN Inc V.AXM.H

Alternate Symbol(s): AXMIF

Metals & Mining Gold

AXMIN Inc. is a Canadian exploration and development company with a focus on Central and West Africa. The Company, through its wholly owned subsidiaries, has exploration projects in the Central African Republic (CAR) and Senegal. The Company’s primary asset is the Passendro Gold Project situated in the CAR. It holds a 100% interest in the Bambari properties, which consists of a mining license (355 square kilometers) and two exploration licenses, Bambari 1 and 2 (1,240 square kilometers). The Passendro Gold Project is situated in the center of the mining license, which is ring-fenced by the two Bambari exploration licenses. The Company, through its joint venture partner and manager, Sabodala Mining Company SARL (SMC) owns approximately 20% interest in Sounkounkou, Heremokono and Sabodala NW exploration licenses (the Project) located in the Birimian belt of eastern Senegal. The Company's subsidiaries include AXMIN Limited (BVI), Aurafrique SARL (CAR), SOMIO Toungou SA (CAR), and others.

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AXMIN Inc > Ndassima Arbitration Date Set For October 20th 2021

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Comment by YouSellandIBuyon Sep 20, 2021 6:20pm

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Post# 33890404

RE:Ndassima Arbitration Date Set For October 20th 2021

Roddiggiti wrote:
https://www.rfi.fr/fr/afrique/20210920-dossier-minier-de-ndassima-un-arbitrage-entre-la-centrafrique-et-axmin-se-tiendra-%C3%A0-abidjan

Ndassima mining case: an arbitration between the Central African Republic and Axmin will be held in Abidjan

Published on : 09/20/2021 - 04:55

In the Central African Republic, the case concerning the mining permits of Ndassima, the only mines in the country known to be industrially exploitable, continues. The permit was withdrawn from the Canadian Axmin consortium at the end of 2019 because the authorities accused it of not having met the legal deadlines to start operations. Axmin opposes its inability to operate because of the security conditions and in particular the presence of armed men on the site.

It took several weeks for a date to be set. It is therefore on October 20 that the arbitration will be held between the Canadian junior Axmin and the Central African State. The meeting will take place in Abidjan. The mediator has been appointed but his identity is kept confidential. The objective is to find a way out of the crisis from this situation. But for the company Axmin, the goal is clear, it is to recover the two licenses withdrawn two years ago now. A withdrawal that she considers illegal.

Contacted the Minister of Mines did not wish to comment, specifying to prepare for the meeting at the end of October. Rufin Benam Beltungou, recently appointed to this post, was before that the advisor on natural resources to President Touadra. In a note addressed to the Head of State, he advised at the time to " go back purely and simply on this decision to withdraw " considering that this decision lacks " legal basis ".