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Artumas Group Inc. The Government of Tanzania has given approval to Artumas Group Inc. (OSE:AGI) to dedicate a portion of the Company's discovered natural gas resource in the Mnazi Bay Concession as feedstock for a large power generation project inter-tied to the national grid.
Negotiations are proceeding with identified stakeholders including the state utility TANESCO (Tanzania Electric Supply Company) and representatives from the mining community to finalize the relevant precedent agreements.
A decision by the Government of Tanzania regarding authorization for export of compressed natural gas (CNG) for sale to Mombasa, Kenya is pending.
