BMR invests in Portuguese metal exploration
JOHANNESBURG (miningweekly.com) – Base metals miner BMR Group has acquired an 80% interest in an exploration concession for tungsten, tin, and potentially other minerals including gold and silver, over the property known as Ester in northern Portugal.
The company announced on Monday that the option was granted by private Portuguese geological and engineering company Mineralia-Minas, Geotecnia E Construcoes (Mineralia), which holds a number of exploration concessions granted by Portugal’s government.
"We are delighted to have secured this option over the Ester property, which has the potential of enabling BMR to expand its interests in the natural resources sector as well as geographically, for value creation,” said chairperson Alex Borrelli.
The option, which has a term of 12 months, is exercisable upon BMR spending €140 000 on exploration at the property over the next 12 months.
Upon exercising the option, the Ester project will be transferred into a joint venture company to be owned 80% by BMR, which will appoint a majority of its board of directors.
Mineralia will act as project operator in cooperation with BMR.
BMR has agreed, subject to exercise of the option, to pay deferred consideration to Mineralia of €100 000 upon the grant of a preliminary exploitation licence and €1-million upon the grant of a definitive exploitation licence, in each case in respect of the Ester property.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...
VISIT SHOWROOM
Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
