Pan African Minerals (PAM), part of the Timis Corporation, has signed a contract with the State of Burkina Faso to develop the manganese deposit at Tambao, one of the highest grade manganese deposits in the world.
The grant of the mining rights to the manganese deposit, which is located in the Sahel region of the north of Burkina Faso, is part of a wider infrastructure development project for the north of the country.
The integrated Tambao project will be developed in two phases. In the first phase, PAM will export 1 million tonnes of manganese ore per annum and will refurbish the existing rail line between Ouagadougou and Kaya, while building a dedicated mineral haul road of approximately 90 km to deliver the ore to the Kaya rail head.
In the second phase, PAM will export a minimum of 2 million tonnes of ore and will extend the rail line from Kaya to Tambao to enable an all-rail export corridor from Tambao to Abidjan.
In addition, PAM will undertake a feasibility study to determine the possibility of building a dam on the Beli River for the production of hydro-electric power and water, and PAM has also agreed to pay for the asphalting of the Dori - Gorom Gorom – Tambao road. PAM will also contribute actively to the social development of the region, building schools, medical centres and water sources in the local area as well as sponsoring scholarships for children in the region.
The total investment is expected to be in the region of $650 million, and the infrastructure to be constructed will significantly open up the north of the country.
Frank Timis, founder and executive chairman says: “We are delighted that the State of Burkina Faso has awarded us this project, which is hugely important to the country. Timis Corporation has significant experience undertaking similar projects in West Africa, which gives us and the State of Burkina Faso the confidence to know we are capable of successfully delivering all the elements of the Tambao project.”
News courtesy of International Mining www.im-mining.com
|< Prev||Next >|