The government of Mozambique has licensed Mincor Resources, (ASE) to explore the Niassa concession, in northern Mozambique.
The 173-sq.-km concession produced about 240,000 ounces of gold in 1994, from small-scale placer deposits and near-surface lode mining. Mincor plans to spend US$450,000 on initial exploration on the concession.
Mincor is currently the only large-scale lode gold miner in Mozambique, operating the Monarch gold mine on the Zimbabwean border in Manica province.
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