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MRG Metals Limited ( (AU:MRQ) ) has provided an update.
MRG Metals Limited has made significant progress in its joint venture with Sinowin Lithium for the development of its Mozambique Heavy Mineral Sands Projects. The company is on track to begin initial production of 110,000 tonnes per annum of heavy mineral sands concentrate within the next 12-18 months, with plans to scale up to 440,000 tonnes per annum. The recent granting of the Corridor South Mining Licence marks a major milestone, complementing the Corridor Central Licence and forming the foundation of a substantial resource base. Sinowin has already invested over US$1 million and committed to further funding, including a potential acquisition clause valuing MRG’s equity at a minimum of US$50 million. The Linhuane Exploration Licence has also been granted, supporting long-term development and production expansion.
More about MRG Metals Limited
MRG Metals Limited operates in the mining industry, focusing on the development of heavy mineral sands projects. The company is primarily engaged in advancing its Mozambique Heavy Mineral Sands Projects through a joint venture with Sinowin Lithium, targeting significant production of heavy mineral sands concentrate.
Current Market Cap: A$10.91M
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