(Ecofin Agency) - Ferrex Plc, mining company with assets in Togo, Gabon and South Africa, announced on November 24 it was becoming Keras Plc. A general assembly is to be held on December 10 in Surrey, England, to evaluate this decision, reflects the company’s future and approve various ongoing management decisions.

The transformation coincides with the firm’s decision to finance exploitation of Nayega manganese deposit in the Northern Togo, using the profits from its output at the Karlgoorlie gold deposits in Western Australia as funding.

In Togo, the firm plans for a low-cost valorization of Nageya project which holds 14 Mt of resources at 12.4% of Manganese, and projects an output of 250,000 tons at 38% per year, during phase 1 of development.

Ferrex Plc holds, in regards to iron, the Malelane project in South Africa which contains 139 Mt of inferred resources at 37% of iron, as well the Mebaga iron project favoring DSO production in Gabon.