https://www.engineeringnews.co.za

Korab keeps its Geolsec options open

12th November 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Junior Korab Resources' wholly owned subsidiary Geolsec Phosphate Operations has entered into a heads of agreement (HoA) for a 250 000 t phosphate rock offtake agreement with DPA Oceania, as well as for a possible A$4-million investment.

The offtake covered the sale of 250 000 t of phosphate rock over a period of five years, on commercially attractive terms. The offtake agreement could be extended for further periods.

DPA Oceania has also expressed interest in acquiring no more than a 50% equity interest in Geolsec for A$4-million in cash and a provision of assistance with the expansion and further development of the quarry, and the management of its operations.

The parties would now negotiate the detailed terms of the equity acquisition and provisions of assistance.

Korab noted that, while Geolsec had committed to an offtake agreement, Korab itself was under no obligation to sell an equity stake in its subsidiary, giving the company the flexibility to consider potential transactions with other parties.

Korab was in discussions with other parties regarding offtakes, distribution agreements and potential equity transactions.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Latest News

SKAO director-general Prof Jessica Dempsey
The SKA Observatory has a new head
2nd June 2026 By: Rebecca Campbell

Showroom

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 
Iritron
Iritron

Iritron delivers advanced automation, control, and optimisation solutions to the Mining, Minerals & Metals, Consumer Package Goods and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.047 0.699s - 140pq - 2rq
Subscribe Now