Pan African Minerals’ Tambao Manganese Deposit to Get Rail Line

Reuters reported that Bollore, a French conglomerate, and Pan African Minerals Ltd. have signed a memorandum of understanding regarding an  $895-million rail program. It will connect Abidjan, Cote d’Ivoire to Pan African’s manganese deposit at Tambao, Burkina Faso.

As quoted in the market news:

Pan African Minerals (PAM), controlled by Romanian billionaire Frank Timis, is developing the manganese mine at Tambao in the northeast of Burkina Faso. It plans to invest nearly $1 billion and produce some 3 million tonnes a year.

Tamboa, which Timis says will be the biggest manganese mine in the world, is a priority for Burkina Faso’s government as it seeks to diversify its economy away from a reliance on gold and cotton.

Bollore will invest about €400-million ($535.60-million) to rehabilitate the 1 250 km rail line between Côte d’Ivoire’s commercial capital and Kaya, a town north of Ouagadougou.

Click here to read the full Reuters report.