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Whinnen Resources to Buy into Cameroon Bauxite Project
- China Aluminium Network
- Post Time: 2008/4/18
- Click Amount: 611
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Australian Whinnen Resources announced it has reached a conditional agreement to buy an 85% stake in the Fongo Tongo bauxite project in Cameroon for $8,000,000, equally in cash and shares.
The bauxite deposit was evaluated by a study in 1980 that it could support a mining operation of 1,000,000tpy and a 400,000tpy alumina refinery, while Whinney said it would start exploring in the short run but with a view of building a refinery in partnering with the Cameroon government in the medium run.
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