Strategic Partners

Anglo-African Minerals plc and CECEP JV Memorandum of Understanding Signing Ceremony - Beijing, China September 2016




In September 2016, AAM entered into the first stage of a new joint-venture partnership with a Chinese consortium owned by CECEP, one of the largest state owned enterprises in China.


Other parties include China New Era as a funding partner and China Geo Engineering, a construction and engineering company which has been operating in Guinea for some 18 years and has a strong track record in the country.


The consortium will provide the following important elements in the joint venture: 


  • 71.0% funding for the development of the FAR project 
  • An extension to the Conakry port terminal, with FAR and AAM having priority rights over the port and for all its other projects. 
  • Full mining services. 
  • Investment in infrastructure improvements. 
  • Off-take agreements. 
  • Repayment of $3.5 million of historical costs to AAM. 
  • The consortium will release an initial $2.0 million deposit to FAR to assist in with the project’s progression, with a further $1.5 million to be released as part payment of AAM’s historical costs during 2017. 
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