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Contract Type
agreement
TorontoMiningDescription
Montero Mining and Exploration Ltd. has received the second instalment of US$8,000,000 in cash from the United Republic of Tanzania as part of a US$27,000,000 settlement in connection with Tanzania’s expropriation of Montero’s Wigu Hill rare earth element project. The final instalment of US$7,000,000 is expected to be paid on or before 28th February 2025, after which the company will finalize its analysis for the distribution of funds, including potential distribution to shareholders.