JOHANNESBURG (miningweekly.com) – Australia-listed Gulf Resources plans acquire diversified-miner Rio Tinto’s vermiculite project in Uganda, the company announced on Tuesday.

The Namekara resource, which Rio Tinto acquired in 2007, is considered to be one of the largest high-grade vermiculite mineral deposits in the world, capable of supporting a low-cost, long-life operation.

Gulf Resources said that its engineering staff and country manager were currently completing a due diligence programme, and that further details would be released in due course.

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