Tawana Resources and WISCO CAD enter into a MoU
Tawana Resources NL has entered into a non-binding Memorandum of Understanding with WISCO CAD Mining Company Limited, relating to the access and use of the WISCO CAD’s port facilities in Liberia.
Both parties are entering negotiations with the aim of finalising a definitive cooperation agreement for the use of the current existing working port facilities and infrastructure managed by WISCO CAD.
The agreement will be negotiated on the understanding of access to stockpiling and ship loading services throughout the early stage of Tawana’s project development.
Tawana Resources wishes to secure this commercially viable end-to-end logistics solution for its Mofe Creek project during the early stages of development and ramp up. The production and export of the initial smaller scale product from the project will help to establish the Company in Liberia as well as decrease capital expenditure and create revenue and employment opportunities within the community.
Tawana Resources’ Executive Chairman and Chief Executive Officer, Wayne Richards, commented, “Tawana is very pleased to have this opportunity to work closely with Wisco Cad through the memorandum of understanding. We believe this memorandum of understanding could promote mutually beneficial cooperation and export opportunities between our companies as well as create the opportunity to increase the export capacity and revenues of the Freeport facilities. The memorandum of understanding and proposed Cooperation Agreement has the potential to provide an interim export facility and logistics solution for the initial stage of the Mofe Creek project while the Project’s proposed independent haul road and transhipment facility are being designed and constructed for the incremental production tonnes. The memorandum of understanding represents an outstanding opportunity to export the Company’s premium iron ore product (63-68% Fe) from the Mofe Creek project, with very limited up-front capital requirements”.
Tawana Resources is an ASX and JSE listed iron, gold and manganese exploration company with operations in Liberia and South Africa.