Ferrex’s Definitive Feasibility Study for Nayega Nearing Completion

Mining Weekly reported that Ferrex Plc (LSE:FRX) announced Monday that the definitive feasibility study for its Nayega project in northern Togo is nearing completion.

As quoted in the article:

The company was now focused on accelerating the start-up model to export 250 000 t/y of manganese ore to generate early cash flow. Further, the Africa-focused company noted that mining convention negotiations with the Togo government had also been concluded. This was a “positive outcome” for both parties, as it outlined the significant contribution of the mine to community development and skills transfer. Ferrex was now hoping to acquire an exploration permit by the end of the second quarter.

Meanwhile, the company noted that the initial results of the DFS indicated that it would need significantly less capital and lower operating costs to run the mine and that discussions with project financiers and manganese offtakers were progressing positively.

Click here to read the full Mining Weekly report.