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FYI starts JV negotiations in Laos

6th April 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – ASX-listed junior FYI Resources has come a step closer to starting potash production in Laos, after agreeing to start joint venture (JV) negotiations with China’s Yuntianhua Group.

The two companies in February signed a memorandum of understanding covering potential potash project collaboration and resource development and production opportunities in Laos.

FYI told shareholders on Wednesday that the JV negotiations would centre on a collaboration on resource development and potential production at the Sino-Lao potash project, which has an established processing facility of 60 000 t/y, a significant potash deposit, and significant underground mine development and supporting infrastructure.

Any JV between the two companies would be conditional upon FYI completing a current due diligence before the end of May, and obtaining all the necessary shareholder and regulatory approvals.

Edited by Creamer Media Reporter

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