PERTH (miningweekly.com) – Junior Equatorial Resources has entered into a strategic alliance agreement with Congolese company Rock Mining SARL to advance the development of the Bandondo iron project, in the Republic of Congo.
Under the terms of the alliance agreement, Rock Mining will assist Equatorial with its ongoing activities at Badondo, including logistical support, staffing and maintaining relationships with the government, local communities and other stakeholders.
In return, Rock Mining will be granted a 20% indirect economic interest in Equatorial’s Congolese subsidiary Congo Mining Exploration, which owns the Bandondo project.
Bandondo is a potentially large-scale iron project located within a regional cluster of iron-ore exploration projects, including the Mbalam-Nabeba project being developed by Sundance Resources.
Following receipt of a mining licence at Bandondo, Equatorial will finalise its plans for further exploration work on the basis that current iron-ore prices justified new development activities at the project area.
Equatorial will also continue to investigate additional opportunities for partnership and cooperation with strategic investors at project level, in order to maximise the value of Bandondo for shareholders.