A reminder for those that haven't been paying attention.
And the price of Aluminum is still rising, making the best high grade bauxite project on the planet even better.Minim Martap Project
The Minim Martap Project is a world classbauxite deposit located in the Adamawa region of Cameroon. The Minim Martap
Project encompasses two deposits, namely theNgaoundal and Minim Martap deposits, which are located within 25 km of
each other. The total area of the permits is1,349 km2.
The Project is located adjacent to theoperating rail line in Cameroon that runs directly to the Douala Port. TheDouala Port
is targeted as the operating port for theStage-1 development phase of the Project. The new Kribi Deep Water Port,located
in the south-west of the country, isoperational and can directly load post-Panamax and Cape Class size vessels. Itis
intended to utilise the Kribi Port facility forthe Stage-2 development of the Project and the Company is working with the
Government of Cameroon and interested partiesregarding the development of the rail extension to the Kribi Port.
The bauxite within the Minim Martap Project isa high grade, low contaminant bauxite that initial testing indicates issuitable
for both low and high temperature aluminarefining. The Company believes that the Minim Martap Project is the only
bauxite deposit of this scale and high grade,low contaminant nature located outside of Guinea.
During the half year ended 31 December 2020 theGroup has substantially progressed the Minim Martap Project through
undertaking the following activities andachieving the following milestones.
Pre-Feasibility Study
On 1 July 2020 the Group announced results ofthe Minim Martap Project Pre-Feasibility Study (PFS) for Stage-1 of the
Project’s development. The PFS demonstrated theMinim Martap Project’s potential as a long-term producer of very high
quality, low contaminant bauxite via amulti-stage development program utilising existing infrastructure in Cameroon.The
Group is advancing strategic partnership andoff-take agreement discussions with interested parties to accelerate the
Project development timeline.
Agreement with major engineering firm MCC-CIEfor BFS
On 23 December 2020 the Group announced theexecution of a bankable feasibility study (BFS) contract for Stage 1 of the
Group’s Minim Martap bauxite project, withleading Chinese engineering, procurement and construction (EPC) firm
Changtian International Engineering Corporationof MCC (MCC-CIE).
MCC-CIE is part of China Metallurgical GroupCorporation (MCC), which is a wholly owned subsidiary of China Minmetals
Corporation (Minmetals). MCC-CIE is one ofChina’s leading EPC companies and is a one-stop-shop for the project
development life cycle, incorporatingfeasibility studies, engineering design, metallurgical infrastructuredevelopment,
heavy industry projects and equipmentmanufacturing. MCC-CIE works extensively with leading banks in China and aspart
of the BFS scope will ensure that the BFS iscompliant to the requirements of those funding institutions. The scope of the
BFS work program will preserve broader fundingsource options for the Minim Martap Project.
The scope of the BFS contract includes the mineand port infrastructure. Australian-based Mining Plus who managed the
PFS has been retained to focus on Resource andReserve development and mining contract tendering, and to ensure
continuity of transition and learnings from PFSto BFS.
The Group is nearing completion of the assemblyof the BFS team of employees, consultants and partners and continually
holding in-country face-to-face commercial andlegal discussions with the representatives of the Government of Cameroon,
Camrail and the Port Authority of Douala.
Subsequent to the period end, on 9 March 2021the Group announced that leading rail engineering firm Vecturis has been
engaged to optimise the technical andcommercial rail solutions for the BFS.
Mineral Resource Upgrade
On 1 October 2020, the Group announced anupdated Mineral Resource Estimate for the Minim Martap Project of more
than 1 billion tonnes of high-grade bauxite,
Minim Martap Bauxite Technical Specificationsand Testing
During the half year ended 31 December 2020 theGroup led positive engagements with some of the world’s leading and
largest bauxite, alumina and aluminiumproducers.
Following various meetings with potentialstrategic partners, bauxite offtake parties and projectconstruction/service-related
companies, the Group received interest fromrelevant companies and end users regarding potential participation in the
Minim Martap Project development. Thesecompanies are looking to secure long-term bauxite supply and acknowledge the
scale and quality of Minim Martap bauxite,which offers high-grade and low contaminant bauxite which can potentially
improve the environmental footprint whencompared with typical standard grade bauxite.
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