Albidon, Iamgold in joint venture for Maitengwe prospect

Africa-focused nickel company Albidon has signed a joint-venture (JV) agreement with mid-tier gold producer Iamgold, whereby the Australian Stock Exchange-listed firm could earn up to 80 percent of the Maitengwe prospect, it said on Monday.

To earn that shareholding, it would have to spend $800, 000 on exploration in four years and complete a pre-feasibility study, the company said. The JV covers the Maitengwe Greenstone Belt where Albidon had already struck nickel at Sunnyside, to the south of Selebi-Phikwe.

The Maitengwe Greenstone Belt has not yet been subjected to intensive modern nickel exploration, the statement said.

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