AIM-listed Keras Resources announced this week that it has received notification of a decree from the Togo government to undertake large-scale mining at its Nayega manganese project.
Togo – Keras Resources’ involvement in Nayega is through its 85% ownership of subsidiary Société Générale de Mines (SGM). Keras anticipates that the all documentation related to the exploitation permit will be signed by SGM and thee soon and that a full announcement of the terms of the permit and the underlying protocols will be made immediately after signature.
Russell Lamming, CEO of Keras, commented; “This is great news for the future of Keras, and a major milestone for the company. Our strategy of proving up the project through the fully funded 10 000 tonne bulk sampling programme has been validated, and the installed processing capacity allows us to commence production of beneficiated 38% manganese ore at a rate of 6 500tpm without investing any further capital.”
Located in northern Togo, The Nayega deposit comprises eluvial rubble of manganese oxides ranging in size from flakes to cobbles. The ore is best suited to production of silico-manganese alloy.
The project is located 30 km from the N1 national road, which provides direct access to the regionally important deep water port of Lomé 600 km to the south.