UK 14:19 Tuesday, 10 November 2026
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Unfavoured manganese hopeful Ferrex (FRX) is expected to announce a resource upgrade by May for its Nayega project in the West African republic of Togo, having concluded agreement with the authorities on a 150-page mining convention to permit the 250,000 tonne-a-year project to go ahead -- provided finance is forthcoming. Company watchers believe an imminent definitive feasibility study will suggest costs could be significantly less than the $14.5 million previously estimated to tap Nayega’s resources, hitherto reckoned at 11 million tonnes with 13.9% manganese, and suggest a full exploitation permit, the final hurdle, is likely soon after Togo’s presidential election next month.
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