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                                                                                                                                          *
          #                                                                                                            Form XVII          #
          ffi                                                                                                     (Regulation 23)
          #(
          #                  Solwezi                                HffiH                                                                 W
          #                                                  REPUBLIC OFZAMBIA                                                            ffi
          #
          #
          W                                       The Mines and Minerals Development  Act. 2008                                           #
          *                                                        (Act No. 7 of 2008)
          #                            The Mines and Minerals Development  (General)  Regulations, 200E
          iUfr                                                                                  Lrcr-INCE NO. 20sm-HQ-LML
                                                LARGE-SCALE MINING LICENCE
          *                              (Section 27 of the Mines arul Minerals Det)alopnrc t Act, No.7 o.f 2008)                         #
          #            Holder's name: Ndola Quarries Limited
          #
          #            Address: P.O BOX 240081, Ndola
          #            The mining area shall be the area described in the Schedule  and anlexed hereto and                                #
          #            bordered Red on the Plan,
          #            The licence relates to the following minerals: Cobalt, Copper. Gold lrorl Limestone,
          #
          #            Manganese, Silver and Zinc
          #            The Iiccnce is granted for a period of 25 Years commencing  on the 17h clay of August, 2015
          #            The conditions of grant of the licence are as shown in the Annexures  attached hereto.
          #            Issued at Lusaka this 246 day of August 2015.                                                                      #
          #                                                                                            /"1',. ,..,  /
          #                                                                                                            !--
          #                                                                                           ;;.;;,     .;";;;;
          #                                                                                             /Dir".to.                         #
          #
          #
          #                                             ENDORSEMENT  OF REGISTRATION
          #                                             This Large Scale Mining Licence has on this 17t day of Auguet,
          *                                             2015 been registered in the Register.                                             #
          #
          ffi
          #                                                                                             M         .C.Lumamba
          ffi                                                                                                Director                     #
          aoe
                 C.     CONDITIONS OF GRANT OF A LARGE-SCALE  MINING LICENCE
              l.  A holder shall-
                        (a)  develop the mining area in accordance with the approved programme
                              of mining operation;
                        (b)  execute the environmental management plan;
                        (c)  demarcate the mining area and keep it demarcated;
                        (d)  pay mineral royalty in accordance with the Mines and Minerals
                        (e)  Development Act, 2008 and the Income Tax Act. Cap. 323;
                              maintain at the holder's office, complete and accurate technical and
                              financial records of mining operations;
                        (0    permit authorised officers, at any time, to inspect all records, mining
                        (S)  or mineral processing  operations;
                              submit statutory reports, records and any other information
                        (h)  concerning mining operations;                          within 
                              submit copies of annual audited financial statements        three
                        (i)   months of the end of each financial year;
                              submit reports on external supplies of ore, concentrates,  tailings
                              slimes or any other mineral fed to the plant;
                        (j)   provide current information  on recovery from ores, mineral products,
                        (k)   production costs and sales;
                              conduct operations only upon meeting the requirements under the
                              Environmental  Protection and Pollution Control Act, Cap. 204 and upon
                              obtaining an annual operatrng permit under the Mines and Minerals
                        (l)   Development Act, 2008;
                              contribute to the Environmental  Protection Fund as required under the
                              Mines and Minerals Development Act, 2008;
                        (m)  obtain appropriate  insurance  for phases of its operations;
                        (n)  submit a Pegging Certificate for approval within three months of grant
                        (o)  of licence; and   provisions 
                              comply with the            of the Mines and Minerals Development
                              Act, 2008 and other relevant laws of Zambia.
                 2.     No illegal mining and trade are permitted in the mining area.
                 3.    The holder shall not enter into any agreements or transfer the licence
                        without the prior consent of the Director.
                 4.    The holder shall be liable for any harm or damage caused by the mineral
                        processing or mining operations and shall compensate any person to whom
                        harm or damage is caused.
                                                                     ?!r^l                     I
                                                   y4                      2 q jr.!.is 2ol5
                                             Mooya       Lumamba
                                                      rector
                                   MINES DEVELOPMENT DEPARTMENT