Joint Ventures
Mibango
Mibango is a PGE project located in Tanzania and operated by the world’s 3rd largest PGE producer, Lonmin Plc.
IMX is diluting to 35% interest in Mibango, and Lonmin is earning 65%. In order to obtain that 65%, Lonmin is required to spend a minimum of US$2m per annum, and complete the Bankable Feasibility Study by 31 March 2012. Lonmin is spending US$2.5m in exploration in 2007 on detailed helimag and VTEM surveys.
In partnership with IMX, Lonmin is exploring a layered ultramafic intrusion. The Mibango project will be fully funded by Lonmin through to production.
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