SML News

Completion of 4,300m Core Drilling at Gibi IronOre Project in Liberia

Thu, 29 Aug 2024 19:39:06 GMT

Sarmin Metals Pte. Ltd. and West26 Pte. Ltd.

Sarmin Metals Pte. Ltd. (SMPL) and its subsidiary West26 Pte. Ltd. are excited to announce the successful completion of 4,300 meters of core drilling at its Gibi Iron Ore Project in Liberia.

Sarmin Metals and West26 chief executive Dr Amir Mirchi said “This significant milestone marks the conclusion of our comprehensive 7,500-meter diamond drilling campaign, focused on a carefully selected, high-potential area of our property commented”. Results are highly encouraging, with strong indications of extensive, near surface, high-grade hematite and massive magnetite deposits.

This achievement underscores the unwavering commitment and hard work of our team. We also want to express our sincere appreciation to Cestos Drilling, our service providers, and the host communities for their invaluable support throughout this process.

West26 Pte. Ltd. is a subsidiary of Sarmin Metals Ltd. holding two large and high-grade iron ore deposits in Gibi Mountain and Nimba South in the Republic of Liberia.

Sarmin Metals Pte. Ltd. is a socially responsible values-based business with the inspiration to become a mineral play by capturing and developing the most unique business opportunities in partnership, building a flexible balance sheet, and delivering near to medium-term value to its shareholders and local community.

Press Release: Kanga Potash Convention Signing

Sun, 20 Aug 2023 19:29:00 GMT

Kanga Potash and Republic of Congo Conclude
25-Year Mining Convention, Paving the Way for Transformation in Resource Development

Brazzaville, The Republic of Congo- August 18, 2023 The Republic of Congo and Kanga Potash have reached a historic milestone with the signing of a 25-year Mining Convention on August 18, 2023. This landmark agreement ushers in a new phase of responsible resource development and economic growth for both parties. Representatives of the Republic of Congo, including State Minister and Minister of Mining Industries and Geology, Mr. Pierre Oba; Minister of Transport, of Civil Aviation, and of the Merchant Marine, Mr. Honoré Sayi; and Minister of Economy and Finance, Mr. Jean-Baptiste Ondaye, joined forces to formalize the Mining Convention. Kanga Potash, represented by Mr. Stéphane A. Rigny, Executive Chairman, and Mr. Achim Strauss, CEO, underscored of the commitment of Kanga Potash to sustainable practices and shared growth. Mr. Achim Strauss, CEO of Kanga Potash, commented, "Kanga Potash is proud to have this extraordinary opportunity to playing a pivotal role in transforming the Republic of Congo into a leading producer of fertilizers. Through responsible resource development, we are dedicated to fostering economic progress and sustainable development. " Of paramount significance is the fact that the Mining Convention was signed yesterday, marks a pivotal moment in the collaboration between Kanga Potash and the Republic of Congo. The Convention encapsulates the terms for responsible mineral resource exploration, extraction and production while upholding sustainable as well as stringent environmental and social standards.

Kanga Potash's proactive investment of over USD 45 million to date reflects their dedication to advancing responsible resource development. Through diligent exploration, the company has unveiled a resource with unparalleled potential – the densest and thickest exploitable seams of carnallite ever encountered globally. The strategic positioning of the Kanga mining license along the coast is a strategic advantage, effectively and significantly reducing logistics costs – a decisive factor in the production and distribution of bulk commodities like potash. This unique geographical advantage, combined with exceptional geology and access to affordable natural gas, positions Kanga Potash as a first in class in cost-effective potash producer.

Mr. Pierre Oba, State Minister and Minister of Mining Industries and Geology, expressed the government's full support for the project, stating, "The Republic of Congo wholeheartedly endorses this unique world-class project, which holds the promise of contributing to food security for Africa and the world. This collaboration showcases our commitment to responsible development for the benefit of our people and the international community." The Kanga Potash project is poised to redefine economic development in the Republic of Congo. With its promise of job creation, industrial diversification, and sustainable growth, the project offers a beacon of hope in sectors where traditional industries have faced challenges. Mr. Stéphane A. Rigny, Executive Chairman of Kanga Potash, expressed his enthusiasm for the Mining Convention, stating, "The signing solidifies our partnership's commitment to responsible and mutually beneficial resource development. We look forward to delivering tangible benefits to the Republic of Congo's economy and its people.

Kanga Potash ("KP") is a world-class, potash project developer operating in the Republic of Congo ("ROC"), with the potential to become the world's lowest cost MOP producer with a 12bn tonne Resource and the thickest potash seams ever drilled. The Kanga project has sufficient drilled reserves to support production of 2.4 m tpa MOP for at least 30 years. It has indicated and inferred resource of over c. 12b tonnes carnallite (with an additional c. 13bn tonnes located on the wholly-owned, adjacent Loango permit). The Company has secured two Letters of Intent for MOP off-take agreements, from a well-known trading company and a Fortune 500 company covering 100% of designated production. In June 2022, Kanga Potash's mining and production licence was officially approved, and construction will begin soon. KP main investors include AMED Funds, Baker Steel Resources Trust, and Sarmin Group Inc.

Launch of Drilling Program at Gibi Mountian

Wed, 28 Sep 2022 23:55:41 GMT

Sarmin Metals Pte. Ltd.

TORONTO, Canada – Sarmin Metals Pte. Ltd. (SMPL) is pleased to announce the commencement of drilling activities by its W26 Pte. Ltd. subisidiary at its Gibi Mountain iron ore deposit in the Republic of Liberia. The initial drilling contract has been awarded to Cestos Investments Liberia Inc. (Cestos Drilling).
Drilling activities followed considerable geological investigations at the Gibi property confirming extensive outcrop of BIF and supported by assay results consistently showing the presence of high-grade iron ore which classify it as DSO (Direct Shipping Ore) material.

Amir Mirchi, Chief Executive of SML and Chairman of West26, welcomed collaboration with Cestos Drilling and commented that: this is a remarkable milestone taking our deposit development to the next level of exploration investigations and further definition delivering value to all stakeholders, local communities and the wider host country.”

Stephane Rigny the chairman of SML, on his return from a recent site visit said: “it is exciting to see the impressive progress our teams are making to further define the Gibi deposit. Beyond the expected high-quality DSO, the geography of this deposit makes it particularly interesting as it lies at a short distance of viable export infrastructure in Bucchanan and Monrovia. Even more compelling, is that Gibi has export alternatives which would require only very light infrastructure for transportation to the coast. In parallel to this drilling exercise, we will define the export solutions and seek to confirm our ability to bring high quality Iron Ore to the market at extremely competitive prices.”.

West26 Pte Ltd. is a subsidiary of Sarmin Metals Ltd. holding two large and high-grade iron ore deposits in Gibi Mountain and Nimba South in the Republic of Liberia.

Sarmin Metals Pte. Ltd. is a socially responsible values-based business with the inspiration to become a mineral play by capturing and developing the most unique business opportunities in partnership, building a flexible balance sheet, and delivering near to medium-term value to its shareholders and local community.

Kanga Potash granted MOP production licence

Sun, 21 Aug 2022 13:04:01 GMT

Production licence granted for development of thickest potash seams ever drilled

Kanga Potash (“KP”), a world class, low-cost potash project developer operating in the Republic of Congo (“ROC”), has received approval for its exploitation (mining and production) licence.

London, Brazzaville, 20 July 2022: Kanga Potash ("KP"), a world class, low-cost potash project developer operating in the Republic of Congo ("ROC"), has received approval for its exploitation (mining and production) licence. With the previously secured surface rights and Letter of Conformity under its environmental and social impact assessment ("ESIA"), this gives the Company all the necessary regulatory consents as it enters the pre-construction development phase. The Company's mining convention, the agreement under which KP will implement and operate its Kanga asset, has now reached its final stage in the approval process, with ratification by the ROC parliament the only pending matter for final approval. Read More

Nimba South and Gibi Mountain Iron Ore

Mon, 12 Jul 2021 07:15:14 GMT

Nimba South and Gibi Mountain High-Grade Iron Ore Deposits Acquisition in Liberia

Sarmin Metals Ltd (SML) is pleased to report conclusion of a shareholder agreement with West26 Pte Ltd, a Singapore-registered mining company, to develop through its wholly owned subsidiaries Westcrest Liberia Ltd and Ironfields Liberia Ltd, two large and high-grade iron ore deposits in Nimba South and Gibi Mountain in the Republic of Liberia. Both projects sit within the Nimba corridor to port Buchanan, where a recent surge in investment has led to the start of multiple iron projects by top-tier international mining companies.

The CEO of Sarmin Metals Ltd commented that we are delighted to expand further the company portfolio of iron ore projects by concluding our shareholding position in West26. Nimba South and Gibi Mountain deposits have previously been explored and further mapping and drilling campaigns already started to develop optionality with lower capex and a phased development approach. Nimba South’s deposit is remarkably close (hundred meters) to an existing Liberian government owned rail line while Gibi deposit is within 60km distance from the port Buchanan.

Stephane Rigny the chairman of SML said: “this is an incredible milestone consolidating further the SML portfolio of iron ore business while providing remarkable investment opportunities to the community of investors and iron ore players with limited infrastructure requirement and near/medium terms cashflow generation”.

Sarmin Metal Ltd. is a socially responsible values-based business with the inspiration to become a mineral play by capturing and developing the most unique business opportunities in partnership, building a flexible balance sheet, and delivering near to medium-term value to its shareholders and local community.

Nimba North World-Class Iron Ore

Fri, 02 Jul 2021 10:45:00 GMT

Nimba North World-Class Iron Ore Deposits Acquisition by SML in Guinea

Sarmin Metals Ltd (SML) is pleased to announce conclusion of a shareholding agreement with Singapore based Steelridge Resources Pte. Ltd. to develop through its wholly owned subsidiary, First Metal Guinee SARLU high grade hematite-magnetite Nimba North iron ore project in the Republic of Guinea.

Amir Mirchi, the CEO of Sarmin Metals Ltd said that we are delighted to announce our shareholding agreement after an extensive review of the permit and deposit. The project has been greatly de-risked and high-grade DSO targets have been identified with past and ongoing works. The SML’s Nimba North deposit sits within the Nimba corridor, where a recent surge in investment has led to the start of multiple iron projects by top-tier international mining companies.

Commenting on this announcement, Stephane Rigny the chairman of SML said: this is an incredible achievement and important milestone that is in line with SML inspiration and its shareholder expectations. Development of SML’s iron ore projects also offer investment opportunities to the community of investors and iron ore players given the project near-term high grade DSO production and most importantly, its long-term value with an ultra high-grade product.

Sarmin Metals Ltd. is a socially responsible values-based business with the inspiration to become a mineral play by capturing and developing the most unique business opportunities in partnership, building a flexible balance sheet, and delivering near to medium-term value to its shareholders and local community.

Chief Executive Officer Appointment

Wed, 30 Jun 2021 05:50:36 GMT

SARMIN Metals Ltd.

Sarmin Group Inc (SGI) is pleased to announce appointment of Dr Amir Mirchi as the Chief Executive of its mining division, Sarmin Metals Ltd (SML) as of 1st February 2021.

Amir Mirchi is a widely experienced executive with strong track record spanning a 30-year international career in the metals and mining sector around investment, commercial, major project development, technology and management.

Dr Mirchi has spent most of his professional career in the global businesses with extensive mining and metals industry experiences. Prior to his current position, he was leading an international senior advisory firm working with major international developers and investors. Amir has had a long professional career with Rio Tinto and Alcan. He held various leading roles including as the Regional Vice President at Rio Tinto.

Commenting on this appointment, Stephane Rigny, the Group CEO and chairman of SML said: Amir is a seasoned, well-respected executive with strong track record. I am particularly pleased to have Amir on board to take the Group’s mining division to the next level of its international strategic positioning delivering value for all stakeholders in the business and host location.

Amir holds a Bachelor, Master and PhD degrees and he is member of Quebec (Canada) Professional Engineer Association.

Making Headways in Bauxite in Guinea

Thu, 28 Jan 2021 08:06:02 GMT

GAOUAL SCREENING TEST WORK RESULTS: SIGNIFICANT SiO2 REDUCTION... Al2O3 INCREASE

Lindian Resources Limited (ASX:LIN) is pleased to advise that the Company has completed the screening test work programme at the Gaoual High Grade Conglomerate Bauxite Project in Guinea, West Africa. Chairman Asimwe Kabunga commented: “This is a very exciting discovery for Lindian. The Bouba Conglomerate ore when screened is now shown to be the highest quality bauxite in Guinea. It assists our broader vision and ambitions, which is to bring into production our large, multi-generational bauxite assets but also strengthens Lindian’s ability to attract high calibre development partners”.

Senior Consulting Geologist Mark Gifford commented: “The screening test work completed upon the Bouba Conglomerate Bauxite Plateau has provided conclusive support to the assumption that by removing the fines material from the conglomerate ores the resultant bauxite would dramatically improve in quality. This is a pleasing result, and one that highlights the significant potential of this unique bauxite resource.”

You can read screening test results in detail here .

DFS Release

Thu, 08 Oct 2020 18:03:27 GMT

SME Completes DFS
First in Class Project Confirmed

SARMIN MINERAL EXPLORATION (SME) a Mauritius based company owned by SARMIN MINING INC. (SMI) and the Luxembourg registered African Mineral Exploration and Development (AMED) private equity fund are pleased to announce the completion of the DFS focusing on their Kanga Potash exploration License.

SMI and AMED jointly funded exploration activities starting in 2016 and invested some [USD40m]. Having completed all project exploration and study related activities, the results have confirmed that the Kanga Potash project is a world class project yielding very strong returns and producing at one of the lowest costs in the world.

Press Release

Mon, 28 Sep 2020 18:04:10 GMT

Sarmin Bauxite Ltd signs a Definitive Investment Agreement with Lindian Resources Limited

CONAKRY, Guinea, September 23, 2020 — Sarmin Bauxite Ltd. (“ Sarmin Bauxite ” or the “ Company ”) is pleased to announce that it has entered into an investment agreement (the " Transaction " ) with Lindian Resources Limited (" Lindian "), an Australian mining company, listed on the Australian Securities Exchange (ASX: LIN).

Sarmin Bauxite, through its fully owned Guinean subsidiary Sarmin Bauxite Guinée Sàrlu, holds a world-class bauxite project (the “ Lelouma Project ”) located in the Republic of Guinea, West-Africa.

Under the terms of the Transaction, Lindian shall acquire a 75% equity interest in the Company in exchange for (i) an upfront consideration consisting of the allotment and issue of 30,674,847new Lindian shares to be paid at completion to Sarmin Bauxite's shareholders plus (ii) a full free-carry for Sarmin Bauxite existing shareholders related to all Lelouma Project expenditures until completion of a Definitive Feasibility Study for the project (the “ DFS ”).

Within 12 months of completion of the DFS, the existing shareholders of Sarmin Bauxite may elect to exchange their remaining 25% shareholding in Sarmin Bauxite for a 1% FOB royalty, which would result in Lindian holding 100% of Sarmin Bauxite.

The closing of the Transaction is subject to the approval of the Guinean Government and of Lindian shareholders.

Marc Sengès, Chief Executive Officer of Sarmin Bauxite Ltd, said, “ Sarmin Bauxite is extremely pleased to have reached this win-win agreement with Lindian that perfectly suits all parties’ ambitions. We are very confident that Lindian has the technical and operational capabilities alongwith the depth of expertise and vision to advance further the Lelouma Project. We are also thrilled to retain direct and indirect exposure to the Lelouma Project through our shareholding into Lindian and our free carried interest that could be converted into a royalty at a later stage. "