Zambian based mining exploration company Kiwara will pay LM Engineering USD100,000 to add iron ore to their joint venture agreement in the Kalumbila area. The venture also includes copper, nickel, cobalt, uranium and platinum group metals.
Both parties now regard iron ore as being integral to the Kalumbila joint venture, the region being known to host significant areas containing iron. The licence area includes large unexplored targets for iron ore and historic results indicate grades in excess of 60% Fe.
Mr Colin Bird chairman of Kiwara said that “The inclusion of iron ore has the potential to significantly enhance shareholder value and it is the company's intention to commence exploration on the iron ore targets as soon as is reasonably possible.”
Source: Steel Guru
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