Whinnen Resources to Buy into Cameroon Bauxite Project

Australian Whinnen Resources announced it has reached a conditional agreement to buy an 85% stake in the Fongo Tongo bauxite project in Cameroon for $8,000,000, equally in cash and shares. The bauxite deposit was evaluated by a study in 1980 that it could support a mining operation of 1,000,000tpy and a 400,000tpy alumina refinery, while Whinney said it would start exploring in the short run but with a view of building a refinery in partnering with the Cameroon government in the medium run. COPYRIGHT All rights reserved. The copying, republication or redistribution of WAM News Content, including by framing or similar means, is expressly prohibited without the prior written consent of WAM.