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State 'revokes' firm's mining right

Johannesburg - First Uranium Corporation [JSE:FUM] announced on Friday that it has received a letter from the Minister of Mineral Resources purporting to "withdraw" the new order mining right to Mine Waste Solutions (MWS), in terms of Section 23 of the Mineral and Petroleum Resources Development Act 28 of 2002 (MPRDA).

"We have been consistently advised by our South African Counsel and maintain the opinion that under current South African mining legislation, reclamation activities such as MWS are not classified as a mining project and therefore do not require a mining right," First Uranium said.

It added: "The MPRDA does not make provision for the 'withdrawal' of a mining right. The MPRDA does make provision for the authorities to take other actions in relation to mining rights provided due process is followed. This includes the serving of notice of the intended action and provides for an opportunity for the recipient to respond, none of which took place in this instance."

The Canadian-based group charged that the notice received was "fatally defective" and stated that correspondence to this effect had been sent to the Minister.

"The Minister has therefore been requested to withdraw the letter. The company awaits the Minister's response. Depending on the Minister's response, shareholders are advised that legal action may be required in order to protect MWS' rights," First Uranium added.
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