Mining

Mali : Cradle Arc signs a joint venture agreement with Indiana resources for Kossanto West’s development

Monday, 10 September 2018 14:15

Cradle Arc announced that its subsidiary Caracal Gold Mali has concluded a joint venture agreement with Indiana Resources for Kossanto West’s exploration and development. The 137 km2  gold project includes Kobokoto East and Koussikoto permits.  

Under the terms of the agreement, Indiana Resources will finance the activities until the pre-feasibility studies are conducted and will own 65% of the projects while Cradle Arc will own 35%. Once the joint venture is formed, development costs will be shared by the two parties.

This agreement enables Cradle Arc to advance its highly prospective West African gold assets, whilst maintaining its primary strategic focus on the development of the Mowana copper mine [ed.note: in Botswana]”, Kevin van Wouw, Cradle Arc’s CEO commented.

The initial work plan at Kossanto West includes a new geological mapping, potential coring and digging as well as exploration drilling. It will be executed within 12 months by Mukuyu Resources, Indiana Resources’ subsidiary.

Louis-Nino Kansoun

On the same topic
Gabon seeks to attract U.S. investment into energy and water sectors Delegation presents $540 million development plan in Washington Government...
Mirova to invest $15 million in iSAT solar telecom towers Funding supports rural tower rollout in Liberia and Zambia Solar-battery...
The DRC has inaugurated a pilot gold refinery in Kalemie, Tanganyika province. The facility can process 500–600 kilograms of gold per...
Nigeria has approved a fiscal incentive to unlock the Bonga Southwest Aparo project. The project, operated by Shell, could require about $20...
Most Read
01

Ethio Telecom has signed a new agreement with Ericsson to expand and modernize its telecom netwo...

Ethiopia’s State-Owned Telco Teams Up With Ericsson to Expand and Upgrade Its Network
02

EIB commits over €1 billion for renewable energy in sub-Saharan Africa Funding supports Miss...

EIB Commits €1 Billion to Renewable Energy Under Africa’s “Mission 300” Initiative
03

MTN Zambia tests Starlink satellite service connecting phones directly from space Direct-to...

Satellite direct-to-device telecoms: promise, momentum and hard limits
04

Since its 2019 IPO, Airtel Africa paid Deloitte over $37 million in audit and non-audit fees,...

Airtel Africa and Deloitte: A Seven-Year Relationship, $37 Million in Fees and a Planned Handover
05

Nigeria introduced a 1% flat tax on the turnover of informal-sector businesses under a new presump...

Nigeria Rolls Out 1% Tax on Informal Businesses Under New Fiscal Framework
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.