InterStar closes manganese sale

The first commercial sale of manganese ore production from the Burkina Faso mining project in Africa has closed, InterStar Mining Group (CDN) reports.

The 10,000-tonne purchase order was processed by InterStar’s sales agency, the Billiton marketing and trade unit of Royal Dutch Shell of The Netherlands. The transaction will provide InterStar with about $2.1 million in gross revenues.

The company says it is near completion of a 10-15,000-tonne sale for August delivery. It also says it plans to mine and ship up to 70,000 tonnes of high-grade manganese ore through the first quarter of 1994.

InterStar’s major shareholders are Phoenix Canada Oil Co. and Starrex Mining (TSE), each with an approximate 32% interest.

The manganese project is in the Tambao region of northern Burkina Faso, French West Africa. The company says the deposit contains about 15 million tonnes of proven and fully developed reserves of metallurgical grade material averaging better than 51% manganese; about 50% of the proven reserves grade 55% manganese.

Metallurgical grade manganese ore is used in the production of ferroalloys which have application in the primary steelmaking process.

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