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Balamara Resources signs up Singapore phosphate trader for Togo project
Thursday, September 05, 2013 by Proactive Investors


http://www.proactiveinvestors.com.au/companies/news/47623/balamara-resources-signs-up-singapore-phosphate-trader-for-togo-project-47623.html



Balamara Resources (ASX: BMB) has signed a memorandum of understanding with Singapore’s Aries Fertilizers Group, who will assist with offtake and other key aspects of developing the Togo Phosphate Project in West Africa.

Aries, which has decades of experience in the trade and movement of phosphate products worldwide, is supported by China’s state-owned Guizhou Kailin Group – one of the largest fertiliser groups in China.

Kailin has extensive experience that may be directly beneficial to Balamara within the Togo Phosphate Project. Aries also has considerable direct experience in the marketing of phosphate products.

The company will also seek to involve Aries in the development of the Togo Phosphate Project, providing assistance with all the main areas of project funding, feasibility, development, construction, infrastructure and engineering and, ultimately, off-take.

The addition of Aries to its consortium provides the Togo Government with the confidence that the company can deliver the outcomes outlined in its tender.

Togo has an exploration target of 2 billion to 2.2 billion tonnes rock phosphate at 14% to 16% P2O5. It is amendable to open pit drilling with the deposit at an average depth of 30 metres.

Notably, it is located just 25 kilometres from an existing port facility with excess capacity along with access to existing road, rail, power and water infrastructure.