Rio Tinto, Savannah enter into JV for heavy minerals development
JOHANNESBURG (miningweekly.com) – Diversified miners Rio Tinto and Savannah Resources have entered into a joint venture that will see the two miners develop their Mozambican heavy mineral sands deposits, effective immediately.
In a statement released on Tuesday, Savannah said that it would operate the Mutamba and
Jangamo mineral sands projects and that it would have an initial 10% beneficial interest in
the combined projects, with the potential to increase to a beneficial interest of 51% on the achievement of milestones.
The projects include an exploration target over zones of mineralisation of between 7-billion tonnes and 12-billion tonnes at a grade ranging from 3% to 4.5% total heavy minerals.
The projects are located close to existing road, grid power, water and port infrastructure and
will have access to Rio Tinto’s existing camp and equipment.
“Agreeing an arrangement that enables exploration activities to be conducted on a unified basis across the Mutamba, Dongane and Jangamo projects makes significant commercial sense, effectively combining three areas which are part of the same, continuous mineralisation trend,” said Savannah CEO David Archer.
He added that Savannah was now focused on starting activity on the ground, with a scoping study targeted for completion in the first quarter of 2017.
The company further noted that the start of operations was expected to bring immediate new
jobs and investment to Mozambique and the Inhambane province.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
Yale Lifting Solutions is a leading supplier of lifting and material handling equipment in Southern Africa. Yale offers a wide range of quality...
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
