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
Live News
-
Ghana Seeks $4bn to Fund Its 24-Hour Economy Plan
06:15
-
Quad Nations Launch Joint Plan to Secure Critical Mineral Supply Chains
06:03
-
CEMAC: Central Bank maintains optimistic forecast for inflation drop to under 3% by 2025
19:40
-
CEMAC Central Bank Sees Inflation Dropping Below 3% in 2025
19:22
-
Togo Launches Regional Development Plan Framework to Align Local and National Policies
18:49
-
Cameroon: Hydrocarbons Fund Posts 158% Profit Surge in 2024 as Gas Subsidies Rise
18:45
-
Mercedes Trucks to Launch Truck Manufacturing Facility in Senegal
18:25
-
Ivorian Fily Sissoko Appointed World Bank Director for Mozambique and Four Other Countries
18:14
-
Benin Signs Three Deals to Boost Digital Transformation
14:50
-
Pesapal Expands Digital Payments Across Africa
14:22
Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...
• Gates Foundation commits $1.6 billion over five years to Gavi.• Bill Gates warns of rising ch...
Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...
In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...
• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...
• Ghana plans to raise $4 billion over four years to support its 24-Hour Economy program• The initiative, launched by President Mahama, aims to...
• Fily Sissoko will oversee a $8.5 billion World Bank portfolio spanning Mozambique, Madagascar, Mauritius, Comoros, and Seychelles.• His mission...
• Two major Nigerian universities to host innovative training programs focused on leadership, innovation, and sustainability.• 200 students and teachers...
• The Green Climate Fund approves $222 million for FAO to launch the SURAGGWA program in eight Sahelian countries.• The initiative focuses on...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...
Lake Natron, located in northern Tanzania near the Kenyan border, is one of the most extraordinary and extreme lakes in Africa. Fed primarily by the Ewaso...