Mining Weekly – MRG enters into JV with Sinowin to develop mineral sands projects in Mozambique

MRG Metals (ASX: MRQ) has entered into a binding joint venture agreement with Sinowin Lithium (HK) Co and Sinowin Lithium Cobalt (Shenzhen) to develop its Mozambique Corridor Sands projects, including Corridor Central and Corridor South. Under the agreement, MRG will be free-carried through all capital and operating expenditure until production reaches 440,000 tonnes of annual concentrate. MRG will initially hold 30% equity, reducing in stages to 25% at 220,000 tonnes and to a floor of 20% at full production of 440,000 tonnes. A feasibility study is near completion and first production is targeted by end of 2025.

To read the full article, visit here.