Amex Resources advances Fiji magnetite concentrate project with port agreement
Thursday, January 20, 2011
Amex Resources (ASX: AXZ) has secured a vital part of the export infrastructure for its Mba Delta Project in Fiji.
The company has negotiated an option and long term lease agreement over a substantial area at Fiji’s major bulk shipping port of Lautoka, on the main island of Viti Levu.
The tenure allows for stockpiling and export of the company’s Mba Delta magnetite iron sands concentrates, and with direct access by barge, has easy access to the deposit located less than 30 kilometres away.
Amex is focussing on completion of the prefeasibility study and commissioning of a pilot plant to produce product for market evaluation.
The Lease agreement provides for a minimum 45 year term with the Fiji Ports Corporation Limited.
The term of the lease reflects the potential mine life based on the size of the current Iron Sands Indicated Resource of 220 million tonnes and the potential exploration target which extends both inland and seaward.
Amex plans to produce and export an initial 750,000 tonnes of magnetite concentrate annually.
January 21, 2011
More Investors eye Fiji's mineral wealth
The sudden interest in in Fiji's port management and control by the illegal and treasonous military regime, has just become a little more clearer.