Brazilian ferroalloys producer Maringa Ferro-Liga SA has signed strategic cooperation agreement with Canada-based Maxtech Ventures for joint evaluation, exploration and potential acquisition of project specific manganese assets in Brazil, Maxtech said.
Maxtech said that if justified, the agreement will allow it to engage in the development and mining of specific claims.
“Maxtech and Maringa will sign project-specific agreements between the parties prior to engaging in any operations on properties. The agreement shall have a term of 3 years and is non-exclusive,” Maxtech said.
“Maringa is a diversified industry leader in the uses of manganese in Brazil, making it the perfect partner for Maxtech. Under this association Maxtech hopes to develop more than an exploration partner, enabling the company to explore, mine and distribute manganese in Brazil with an industry leader,” Maxtech’s CEO, Peter Wilson, added.
Maxtech said it aims to become a diversified mining company with a high-grade manganese footprint.