02 January 2024
02 January 2024
The term loan facility is from China Banking Corporation to partially finance the mine facility.
The exploration permit revision allows for drilling from two pad locations.
Located along the strike from the Mansourah Massarah gold mine, the new discovery can strengthen Ma'aden's production pipeline.
It is understood that Anglo has already begun to identify potential investors for the potash mine development.
Under the agreement, Ophir will spend $3m on exploration expenditure, pay $75,692 in cash and issue six million of its shares.
The company will soon submit construction permits for the project, which can produce around 311ktpa of spodumene concentrate.
The Donald project is expected to yield between 7,000 and 14,000 tonnes of rare earth elements concentrate annually.
Labour unions are questioning the safety measures in place after the incident took place.
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