Pan African Minerals Limited (“PAM”), a subsidiary of the Timis Corporation, has been awarded the rights to the large Tambao Manganese deposit in Burkina Faso during a colourful ceremony on 11 August 2012.
The country hosts one of West Africa’s highest grade manganese deposits at Tambao which is situated in the remote north-eastern parts of the country. Initial ore resource estimated that Tambao contained a geological resource of 14 to 17 million tonnes at a grade of approximately 51.5% manganese.
This is the latest addition to its portfolio of concessions, among them a significant number of mineral mining rights across West Africa, including the large Mont Klahoyo iron ore deposit in Cote d’Ivoire together with associated development and operating rights for both a rail line and a dedicated existing deep water port terminal at San Pedro as well as over Zirconium and other mineral sands in Senegal and Gambia, and uranium in Niger.
Winning the process
On Saturday, after winning an international competitive tender process, PAM signed the 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 kms to deliver the ore to the Kaya rail head.
In the second phase, Pan African Minerals 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, Pan African Minerals 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 the company has also agreed to pay for the asphalting of the Dori-Gorom Gorom – Tambao road. It 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.
Commenting on the conclusion of the contract, Frank Timis, founder and Executive Chairman of Pan African Minerals, said: “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 Tambao project.”
In a related move, Mr Timis has come to be crowned ‘Emperor of West Africa’ because of the continues investments he has brought to the region, thereby creating employment for thousands, if not hundreds of thousands, of West Africans including tax contributions to the emerging economies
© 2012, Newstime Africa. All rights reserved. – The views expressed here are purely those of the author and not necessarily those of the publishers. – Newstime Africa content cannot be reproduced in any form – electronic or print – without prior consent of the Publishers. Copyright infringement will be pursued and perpetrators prosecuted.
65,294 total views, 15 views today