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Balamara to meet with Togo govt in final bid to secure phosphate project
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26th March 2013
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JOHANNESBURG (miningweekly.com) – ASX-listed Balamara Resources has received a formal invitation from the Ministry for Mines and Energy in Togo, in West Africa, to attend a final-stage meeting as part of its bid to secure the Togo carbonated phosphate project in consortium with a group of international partners.

From previous correspondence with the Ministry for Mines and Energy, Balamara believed this meeting was one of the final steps in determining the awarding of the project.

The company lodged its final tender documents with the government of Togo on January 17 and would now travel to Togo to attend the key meeting in early April.

Following these meetings, final positions would be officially presented, after which the government of Togo would select its preferred partner with which it would develop the project.

Balamara had assembled a consortium of partners for the tender process, including one of the largest investment banks in the world. 

Based on the experience and capabilities of the consortium members, as well as the quality and depth of its proposal, the company said it remained confident about its prospects in the final selection process.

The Togo project was a significant shallow phosphate asset, which had been extensively drilled by French technical agency BRGM and, importantly, was located only 30 km from an existing port facility with infrastructure in place.

Balamara was still considering additional potential consortium partners that could further assist with key aspects of the tender and was currently in discussions with several parties.

Edited by: Chanel de Bruyn

 

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