Caledonia acquires Namibian project

Already active elsewhere in Africa, Caledonia Mining (TSE) has been granted a licence by the government of Namibia to explore a land package near Walvis Bay.

Sands grading 14.2% heavy minerals (chiefly iron and titanium oxides) occur in the area covered by the licence. Previous exploration indicates the presence of 800 million tonnes of sands.

Caledonia plans to start exploration and metallurgical testing before the end of October and to increase the tonnage substantially. The occurrence is close to existing road and rail lines, and power is readily available.

Caledonia also has a 31% interest in Reunion Mining, which recently discovered a kimberlite pipe in Tanzania. Joint-venture partner Argosy Mining (VSE) is funding exploration expenditures on the project and can earn a 40% working interest by spending US$6.5 million.