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Mining

Burkina Faso seeks a new partner to develop Tambao manganese project

Thursday, 22 February 2018 17:57

(Ecofin Agency) - Burkina Faso is looking for a new partner to operate Tambao mine, one of the largest manganese deposit in the world, Bloomberg reports.

Following the regime change in 2015, Pan African Minerals, run by Frank Timis was asked to stop operating the mine. Subsequently, the company filed a case before the international court of arbitration in Paris to pursue operations and received nearly $4 billion as compensation. This worsened the case. Now, there is mistrust between the two parties.

“It is logical to find a reliable strategic partner and launch a new project,” stated Oumarou Idani, the minister of mines, in an interview. According to him, Pan African Minerals “did not respect its obligations”.

Tambao mine, which hosts more than 100 million tons of minerals, is expected to produce 3 million tons of manganese a year.





 
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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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