AGL Gold Mining, a wholly owned subsidiary of Minprotech Mining (ASE), has entered into a joint venture agreement with United Kingdom-based African Gems.
The latter will contribute to the former certain gold mining licences in Tanzania. These are subject to a 10% net profits interest.
As well, AGL can acquire, at cost, all other Tanzania, gold prospects identified by the other company. (African Gems is currently investigating 11 additional licences.)
Minprotech is also exploring for tin and chromite deposits in Indonesia. Drilling was recently carried out by an Indonesian partner on the Tin Islands project. If results are positive, a pilot plant will be constructed as a prelude to production.
In the same country, Minprotech also plans to explore a chromite project. The work, to be funded by another partner, will include a final plant design and a marketing study.
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