Savannah enters JV with Rio Tinto to develop Mozambique heavy mineral sands
Published: Monday, 22 June 2015
The company’s deal with Rio Tinto amalgamates their Mozambique HMS interests. Savannah will be the operator of the venture and may earn an interest of up to 51% in the combined Mutamba-Jangamo project.
Savannah Resources Plc’s
subsidiary AME East Africa and Rio Tinto International Holdings
will combine their heavy mineral sands (HMS) prospects in
Mozambique in an unincorporated joint venture (JV) to create a
"world-class" area for the titanium, ilmenite, rutile and
zircon-bearing ore deposits in the country.
The deal brings together...