Ubique Minerals to acquire up to 80% of Port Loko Bauxite Deposit
2021-08-09 12:05:20 [Print]
Canada-based Ubique Minerals Limited announced that it has entered into an exclusive, non-binding Memorandum of Understanding ("MoU") to earn-in up-to 80% of Alumina Ventures Ltd ("AVL") shares. AVL is 100% owner of the Port Loko Bauxite deposit and partially developed mine in Sierra Leone.
UBQ will have the option to earn a 51% stake in the Port Loko Bauxite project in Sierra Leone by:
1. Spending a minimum of US$3m on infrastructure and project costs in the Port Loko project and;
2.Making a commercial production shipment
UBQ can invest US$5m and acquire further 29%.
UBQ will have the option to earn a 51% stake in the Port Loko Bauxite project in Sierra Leone by:
1. Spending a minimum of US$3m on infrastructure and project costs in the Port Loko project and;
2.Making a commercial production shipment
UBQ can invest US$5m and acquire further 29%.
Bauxite Al2O3 60%min, Al/Si 5.0, Ex-VAT Delivered China
Unit:RMB/mt
China bauxite producers' output statistics by province by month
Unit: mt
