https://www.miningweekly.com
Mining|PROJECT|Resources|Services|Drilling
Mining|PROJECT|Resources|Services|Drilling
mining|project|resources|services|drilling

McIntosh JV formalised

8th November 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Hexagon Resources and fellow listed Mineral Resources have struck a joint venture (JV) agreement over the McIntosh graphite project, in Western Australia.

Under the agreement, the two companies will establish an unincorporated JV after Mineral Resources has completed its initial farm-in expenditure of A$300 000, with Hexagon holding a 49% interest, and Mineral Resources a 51% interest.

The JV, which is managed and funded by Mineral Resources, has been operational since the Hexagon shareholders approved the transaction in May this year under a heads of agreement.

Under the JV, Mineral Resources will be solely responsible for undertaking feasibility studies before October next year, starting activities on the project development before April 2020, and completing the project development activities to achieve commercial graphite production by April 2021.

Mineral Resources and its subsidiaries will also provide all mining, processing and logistical services to the McIntosh project under a life-of-mine project services agreement.

Hexagon MD Mike Rosenstreich said on Thursday that the signing of the JV agreement effectively de-risked the project for the company’s shareholders.

“To date, Mineral Resources has certainly been very active on the ground, with a major drilling programme recently completed, yielding a series of positive preliminary outcomes and approximately 17 t of drill core samples recovered.”

McIntosh is currently estimated to have a mineral resource of some 21.3-million tonnes grading 4.5% graphitic carbon.

Edited by Creamer Media Reporter

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024
Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.178 0.212s - 90pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: