Alexander Mining PLC Partnership Agreement in Turkey and Iran (4535F)
February 21 2018 - 2:00AM
UK Regulatory
TIDMAXM
RNS Number : 4535F
Alexander Mining PLC
21 February 2018
21 February 2018
Alexander Mining plc
("Alexander" or the "Company")
Commercial and technical partnership agreement with Proses
Mühendislik, Danı manlık, İn aat ve Tasarım AS. in Turkey, Iran and
the rest of the Middle-East
-- Partnership agreed with Proses Mühendislik, Danı manlık, İn
aat ve Tasarım AS ("Proses"), a mineral processing specialist
consultancy based in Turkey, to investigate the commercial use of
Alexander's base metals leaching technology.
-- Subject to securing the necessary funding, Proses proposes to
design and construct a semi industrial scale processing plant
("SISP") using Alexander's technology in Turkey and/or Iran.
-- Proses plans to investigate a potential SISP at the world
class Mehdiabad zinc project in Iran.
-- Potential for Alexander to agree a technology licence
agreement with suitable project owners introduced by Proses, with
an agreed success fee payable to Proses.
Alexander is delighted to announce that it has executed a
commercial and technical partnership agreement ("Agreement") with
Turkish specialist mineral processing consulting company Proses
Mühendislik, Danı manlık, İn aat ve Tasarım AS ("Proses"). The
Agreement covers the potential application and use of Alexander's
proprietary processing technologies and know-how ("MetaLeach
Technology") in the Middle East, including Turkey and Iran
(collectively the "Territory").
The Agreement covers the terms and conditions of the use of
MetaLeach Technology and appropriate partnership success fees,
where due, for introductions made by Proses.
Martin Rosser, CEO, said: "We are delighted with this
partnership agreement with Proses. Proses is a highly regarded
mineral processing consultancy with a strong presence in a part of
the world that is highly prospective for our technology. We very
much look forward to working together for mutual benefit."
Proses and Alexander will, on a best efforts basis, investigate
commercial opportunities for the use of MetaLeach Technology in the
Territory. Proses proposes it will design and construct a SISP
(circa. 100,000-300,000 tonnes feed per year) either in Turkey or
in Iran subject to securing the necessary funding. Zinc oxide
projects, especially in the Hakkari and Kayseri regions of Turkey
and in Iran, are a particular focus but copper projects are also of
interest. Any such SISP would be built and operated with material
input from Alexander and would be an excellent demonstration of the
commercial value of MetaLeach Technology.
Proses has advised that it will investigate a possible SISP at
the world class Mehdiabad zinc (lead and silver) project in Iran
where it has a role in development planning. Mehdiabad, is a mixed
oxide/sulphide deposit (split circa 40%/60% respectively), with
some sulphide sections containing zinc carbonates in the host. It
is potentially one of the world's largest zinc mines, which the
state-owned Iranian Mines and Mining Industries Development and
Renovation Organisation (IMIDRO) expects to go on stream in the
next four years.
In March 2017 IMIDRO said it had signed a deal with a consortium
of six private companies, led by Iran's Mobin Mining and
Construction Company for the project's development. Mehdiabad has
154Mt of proven reserves, according to IMIDRO, with an exploration
target of 700Mt.
Alexander will receive a gross sales revenue royalty on the
value of the SISP product. Subject to the results of the SISP,
Alexander will negotiate with the project owners a technology
licence agreement ("TLA") for the use of its MetaLeach Technology.
The TLA would be on Alexander's standard commercial terms and
should include a gross sales revenue royalty on all commercial
scale metal or high value-added processing plant product.
In addition, Proses may, on an independent best efforts basis
and from time to time, make introductions to potential mining
companies or projects in the Territory (each an "Opportunity") that
may be of commercial interest to Alexander. If so, where Alexander
has agreed that a potential Opportunity is of interest (allowing
for certain exclusions), Proses will provide material input to the
review by Alexander of the Opportunity, to determine whether or not
Alexander wishes to negotiate a TLA with the Opportunity
owner(s).
Where both Parties mutually agree, each Party may provide
technical consulting services, either separately or jointly, to the
third party owners.
About Proses
Proses (https://www.proseseng.com) was established in Turkey in
1997. The main objective of the founders of the company was to
provide the Turkish market with engineering and consulting
services, especially in the base metals and precious metals
production sector. In addition to Turkey, Proses has been active in
various base metals and precious metals sector projects in
Azerbaijan and Saudi Arabia.
ENDS
For further information, please contact:
Martin Rosser
Chief Executive
Mobile: +44 (0) 7770 865
341
Alan Clegg
Non Executive Chairman
Mobile: +90 543 533 0665
Alexander Mining plc
Tel: +44 (0) 20 7078 9566
Email: mail@alexandermining.com
Website: www.alexandermining.com
Northland Capital Partners
Limited
Matthew Johnson / Dugald
J. Carlean
+44 (0) 20 3861 6625
(Corporate Finance)
John Howes
(Corporate Broking)
Turner Pope Investments
(TPI) Ltd
Andy Thacker
+44 (0) 20 3621 4120
This information is provided by RNS
The company news service from the London Stock Exchange
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