KENYA – TIOMIN RESOURCES of Toronto has decided to delay development of its Kwale mineral sands project until the government of Kenya resolves all land-related issues, provides access to the project site, and fulfills other contractual obligations to the company.
Several farmers who hold land within Tiomin’s mineral leases are resisting expropriation by the Kenyan government. A judge’s ruling on the case is expected on or about Dec. 21, 2006.
Tiomin’s lenders have notified the company that they will not disburse funds for development until these matters are resolved. The company’s board is “disappointed” by these events and is reviewing its strategic options for the US$178-million project. See also www.Tiomin.com.