Mozambique Iron Ore Explorer Seeks Billion Ton Resource

Platts reports that Baobab Resources (LON:BAO) is seeking to certify at least 300 million tons in JORC-classified iron ore resources by year-end.

The press release is quoted as saying,

Baobab seeks to build on its maiden 47.7 million mt JORC inferred resource at the Chitongue Grande prospect in the Massamba Group area and further exploration may lead to uncovering reserves totaling 0.5 to 1 billion mt, the AIM-listed company’s managing director Ben James said Thursday in an interview in London.

For the complete press release, click here.