Margibi Townships, Mining Firm Sign MOU

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KAKATA, May 1 (LINA) -Two Townships in Gibi District, Upper Margibi County, have signed a Memorandum of Understanding (MoU) with the Management of Steinbock Mining Company, which is mining barite in the area.

Barite is a mineral used to produce ceramic tiles and plays a role in the oil mining industry.

Under the MoU, Cinta and Borlorla Townships are to receive US$2,000 each every month as surface rental fees from the Steinbock Mining Company.

Disclosing this Wednesday during the monthly County Development Steering Committee meeting held at the Kakata City Hall, the Chair of the meeting, Mr. Clarence Woodson, said the amounts are being given to the two townships as they are the most affected as host communities of the mining activities of the Steinbock Mining Company.

According to Woodson, a total of US$12,000 has already been remitted into the accounts of the townships.

Meanwhile, the Superintendent of Margibi County, John Buway, has frowned on the leaderships of the two townships for not acquainting his office with the formal signing of the MoU.