On 15th April 2024, the ANM conducted a ceremony for the Issuance of Exploration and Evaluation Licenses to Iron Fortune Pty Ltd (IFPL) and Beacon Minerals Limited (BML) to carry out metallic minerals exploration works at the concession areas across the Post Administrative of Vemasse, Venilale and Laleia with following details ;
1. MEL2023-CA- ZB002
2. MEL2023-CA- ZB003
3. MEL2023-CA- ZB004
4. MEL2023-CA- ZB005
5. MEL2023-CA- ZB006
The approved exploration work program and budget comprised of activities such as: geological and geophysical field mapping, laboratory works and analysis, drilling and local content commitment. The Exploration and Evaluation License is valid for four (4) years.
The ceremony attended by H.E Vice-Prime Minister and Minister Coordinator for Economic Affairs and Minister of Tourism and Environment, Sr. Francisco Kalbuadi Lay, H.E. Ministry of Petroleum and Mineral Resources, Sr Francisco da Costa Monteiro, Distinguish Members of Parliament, Representative of Veterans, President of Manatuto Municipality, President of Baucau Municipality, PNTL Baucau, Local Authorities, all Institutions under the tutelage of the Ministry of Petroleum and Mineral Resources and Media.