18-20 Oct, 2016 - Yangon, MYANMAR
Meliá Yangon
Meliá Yangon
Metro Mining’s main focus is its bauxite assets, with construction on its Bauxite Hills project in Cape York expected to start early 2017, subject to project approvals and funding.
But the company has also been exploring other interests, and recently entered into an agreement to acquire an 80 per cent stake in the Mahar San Copper/VMS Project in Myanmar.
The project is located in the Sagaing Region of northern Myanmar, about 220 kilometres from Mandalay, and is highly prospective for copper, gold and base metal mineralisation in Volcanic Massive Sulphide (VMS) settings.
It consists of four concessions for copper exploration. The first three are smaller, ranging from 16 to 20 hectares, while the fourth is a larger concession covering 7.5 square kilometres. The joint venture also covers the Yar Taung Mine exploration and mining project, which comprises 1853.5 acres.
Metro Mining will contribute US$62,500 for their 80% interest and Mahar San will contribute to its tenements. In addition, Metro Mining will loan at least US $100,000 per year to undertake drilling, resource definition, feasibility studies and other evaluations.
The company is also open to involving other investors with a focus on Myanmar, during the development of the Mahar San project.
Find out more about investment opportunities in Myanmar’s mining sector, at the 3rd Myanmar Mining Summit on 19-20 October in Yangon.
