Shaw River acquires Namibian project

By January 4, 2011News

Shaw River Resources is a rapidly growing ASX-listed manganese company with a strong pipeline of globally significant manganese projects from near term production to exploration in Africa and Australia.

Shaw River has entered into an agreement to purchase 75.5% of the Otjozondu (Otjo) Manganese Project.

The company is rapidly progressing the development of its flagship, world-class manganese asset, the Otjo Project in Namibia, with first production from Otjo expected in 2012. This places the company in a outstanding opportunity to capitalise on the growing demand for manganese.

The results of the scoping study indicate that Otjo will produce strong cash flow, with positive economics from 2012.

As Shaw River progresses the Otjo project to production, the company will join the ranks of only a few listed open-pit manganese mining companies worldwide, in line with our strategy to become a dominant global manages producer.