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Media Release

dsc05211Today, February 14th , 2020 the Autoridade Nacional do Petróleo e Minerais (“ANPM”) on behalf of the Ministry of Petroleum and Minerals, , signed a Marble Exploration Agreement with Elegant Marble Group Unip, Limitada  (EMG), following ministerial decision issued by the  Acting Minister for Petroleum and Mineral  His Excellency Hermenegildo Pereira. This agreement has been finally signed after months of negotiation between the parties

The Exploration Agreement aims to set framework for assessment of marble resources potential for commercial development in a dedicated area in Municipio Manatuto, Administrative Post Laclo, Suco Uma Kaduak for a period of one year with option for one year extension.

During the exploration period, EMG will carry out various works including field work to map the distribution of marble, block rate statistics and perform relevant test and trial mining to determine both quality and quantity of the marble before reporting commercial feasibility of developing the marble resources to the ANPM at the end of the exploration period. Upon success of the exploration work, the Government can elect to participate in the investment to develop and market the marble resources with the view of retaining optimum value from the development of these resources. It is expected that a marble flagship product from the area can be launched as early as 2021.

As part of the exploration work commitment, EMG commits to provide reasonable number of employment opportunities to the locals around the exploration site during the exploration period.  The employment number is expected to increase further during development and operations of the marble quarry in the future.

The ANPM, on behalf of the Ministry of Petroleum and Minerals looks forward to work with EMG in delivering the exploration work commitment under the Marble Exploration Agreement  in timely manner .