Nayega Manganese Project

Nayega overview

Keras has an 85% interest in Société Générale des Mines SARL (SGM) which holds the research permits for the Nayega manganese project in northern Togo, West Africa.

Project highlights

  • Two Research Permits covering 19,903ha in northern Togo, held through 85% subsidiary Société Général des Mines
  • JORC Code Mineral Resource estimate of 13.97Mt @ 12.4% Mn and Ore Reserve estimate of 8.48Mt @14.0% Mn with additional upside identified
  • Oxide mineralisation starts at surface – amenable to shallow open pit operation with no waste stripping
  • 10tph Wet scrubber plant constructed in Q4 2018, commissioned December 2018 & 10,000t bulk sample mining & washing completed during March 2019 and shipped during May 2019.
  • Beneficiated ore averaged 38.8% Mn, 6.28% Fe and 11.5% SiO2
  • Silicomanganese smelter testwork successfully completed in Santander, Spain during July 2019
  • 6,500tpm capacity currently installed – potential expansion to 25ktpm post grant of Exploitation Permit.
Aerial of Nayega Mine
Image of Nayega Mine

Project Location

Map of Nayega

On the 18 October 2019 the Council of Ministers of the Republic of Togo published a decree granting the right for large-scale exploitation of the manganese deposit at Nayéga to the Company’s subsidiary, Société Générale des Mines (“SGM”).  Since that date the Company has concentrated its efforts on obtaining the required Exploitation Permit. The terms of the permit and associated protocols have been agreed, and SGM has been converted from a private to a public company, as required by law and in compliance with the draft Mining Convention. However, the exploitation permit approval has not been forthcoming.

The Company is aware of a national geophysical survey being undertaken by the Togolese Ministry of Mines and Energy and we do not expect to the permitting process at our Nayéga manganese project to be concluded prior to the survey being completed. The Nayega asset is production ready with installed capacity to produce 6,500tpm as soon as Permit is awarded. Management continue to engage with authorities on unlocking the potential value of the asset.

Nayega Foundation

 

As part of the Decree in place for the Nayega mine in Togo, Keras (through its 85% owned Togolese subsidiary, Société Générale de Mines SA (SGM) is committed to contribute 0.75% of revenue from manganese sales at Nayéga to the public treasury to be used for community projects in the vicinity of the Nayéga mine.

In addition to this, Keras has set up and is funding the Nayéga Foundation to look to provide another platform for the development of further community, environmental and sustainability projects. Keras intends to contribute 5% of its attributable net profit from SGM to the Nayéga Foundation on an annual basis and this will be formally incorporated post grant of the exploitation permit.