S.K. Sarawagi & Co. Pvt. Ltd. is one of India’s oldest and largest mining companies and one of the largest exporters of steel input minerals from India to China. The Company and S.K. Sarawagi entered into a strategic cooperation agreement to form the foundation for business development opportunities enabling the joint exploration, evaluation, development and potential acquisition of Manganese mineral deposits. The agreement provides a framework for the opportunity for S.K. Sarawagi to be able to access projects currently controlled by Maxtech or under negotiation that it may normally not be able to because of this strategic cooperation agreement. The term of the agreement is 3 years.
Peter Wilson, CEO of Maxtech said “Maxtech welcomes the Sarawagi family to the Company. This alliance provides a unique opportunity for Maxtech to expand its established high grade manganese claims beyond Brazil with an established Manganese mining conglomerate. The Company has begun research and preliminary due diligence on potential permits and mines for acquisition in Africa. The Company feels this jurisdiction will be an excellent near term benefit for all stakeholders. ”
About S.K. Sarawagi & Co. Pvt. Ltd.
The Company is the flagship of the SARAWAGI Group and started as a fledgling manganese ore mining company in the year 1961 in India. Its ability to innovate, adapt, respond & deliver its products to market needs enabled the company to emerge as the largest producer – exporter of Manganese ores from India. The group has been exporting Manganese ore to East Asian countries such as Japan, South Korea, Taiwan and the People’s Republic of China. In the Exim policy of 1964, the Govt. of India decided to canalise the export of Manganese ore, Chrome Ore & Iron Ore through MMTC [Minerals and Metals Trading Corporation of India] only. This proved to be a blessing in disguise as it involved greater transparency and resulted in the Company’s exports touching 1.5 lakh metric tons of Manganese ore in the year 1966-67 alone, which was the second year of MMTC’s operations.
About Maxtech Ventures Inc.
Maxtech Ventures Inc. is a Canadian based diversified industries corporation with gold and manganese mineral properties. Its focus is on mining and the products that are derived therefrom.
For additional information see the Company’s web site at http://www.maxtech-ventures.com
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Source: Maxtech Ventures Inc. (CSE:MVT, OTC Pink:MTEHF)