Emerging West Africa-focused resources company Volta Mining has announced that it is in advanced discussions with an industry participant to formalise collaborative agreements to accelerate project funding, access to infrastructure and other key components to develop its iron ore assets in Gabon.
The company said that the parties are working to formalise agreements with respect to project finance, drilling services, access to infrastructure and other key measures to advance their iron ore assets in Gabon.
Volta pointed out that the discussions are a critical step forward in the growth of the company and will update the market on their progress in due course, adding that in light of these discussions, the closing date for current share purchase plan has been extended to 5 July 2013.
“We are pleased with the progress of discussions achieved to date and look forward to successfully concluding arrangements for the introduction of a strategic partner to aid in the advancement of our projects. Such collaboration makes commercial sense as the resulting agreements will better equip us, through collaborative efforts, to attaining our goal of becoming the first iron ore producer in Gabon, thus enabling Volta Mining to generate significant value for its shareholders and the Republic of Gabon,’’ said Volta Mining’s MD David Sumich.
Volta is one of the largest holders of prospective iron ore licences in West Africa. Its Mbombo and Kango iron ore projects in Gabon are positioned in close proximity of existing infrastructure including rail and port. Volta’s goal is to become the first iron ore producer in Gabon.