Base Resources has concluded with World Titane Holdings an agreement to acquire an initial 85% stake in its subsidiary holding the Toliara mineral sands project in Madagascar.
Under the deal’s terms, the firm will pay $75 million for the interests it seeks. Once the project enters its development stage (in addition to other stages agreed upon), it will be able to acquire the remaining 15% for another $17 million.
Base Resources has announced yesterday a fundraising for AU$100 million to partially finance the stake acquisition. It sees the Toliara project as one of the best of its kind worldwide.
In fact, its opinion is backed by a JORC 2012 resource of 857 million tons of resources at 6.2% of heavy minerals for the Ranobe deposit on which the Toliara project is based.
Base Resources which operates the Kwale project in Kenya plans to start developing the Toliara project in H2 2019, and according to the development schedule, it should start production in mid-2021.
Louis-Nino Kansoun
Africa’s energy & mining exports benefit from US tariff exemptions, cushioning trade as most other...
Development Partners International sold its 20.17% stake in Atlantic Business International for mo...
Nigerian fintech Paystack launches Paystack Microfinance Bank Bank created after acquiring ...
Nigeria granted Amazon Kuiper a seven-year license starting February 2026 The move opens comp...
This week in Africa, Africa CDC continues its clinical trial on mpox, while a new study highlights l...
Blue Earth Capital secures over $100 million first close Impact secondaries strategy targets emerging markets, including Africa and...
Senegal plans to launch second satellite, GAINDESAT-1B, in 2026 Satellite builds on GAINDESAT-1A’s environmental and monitoring...
Nigeria forecasts 4.68% growth in 2026, finance minister says Easing inflation, stable naira and reforms underpin economic outlook Government...
Plan targets English teachers for Burkina Faso and French teachers for Ghana Talks focus on boosting language skills and regional education...
Located at the mouth of the Senegal River, about twenty kilometers from the Atlantic Ocean, Saint-Louis Island holds a distinctive place in the country’s...
Benin considers hosting a pan-African cultural event inspired by FESMAN but plans to use a different name. Culture Minister Jean-Michel Abimbola...