Bellzone Mining has begun stockpiling the first fines material for wet processing at its Forcariah JV iron ore mine in the Republic of Guinea, West Africa. The firm has also transported the first lump production via haul trucks to the transhipping port at Konta, which will then be transported by barge to a transhipping vessel. The first sold ore is expected to be loaded into a 170,000 tonne vessel for sailing in the third quarter of 2012. The company said off-take negotiations are progressing well.
Iron ore miner Baobab Resources is terminating its joint venture with Ferrex by mutual agreement, with immediate effect. The JV was established in 2010 to explore the manganese and base metal potential of Baobab's Changara project, and since then has identified numerous targets for follow up phases of exploration. Ferrex, which has chosen to focus its resources on its flagship manganese project in Togo, will now pay Baobab $39,521 for the shortfall in expenditure committed at the first stage of the agreement. Baobab retains 100% ownership of the Changara project.
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