Australian company Baobab Resources raises estimate of iron ore resources in Mozambique

1 November 2011

Fremantle, Australia, 1 Nov – Australian mining company Baobab Resources said Monday in Fremantle it had added 100 million tons to the existing 267 million tons of iron ore resources at its Ruoni Norte and Chitongue Grande projects in Mozambique.

In a statement published on its website, the company’s chief executive, Ben James, said that Baobab Resources now had total iron ore resource of a quarter of a million tons and that prospecting had not yet been concluded.

Baobab Resources’ project in Tete is split into two areas – Singore and just to the north the Massamba group, which can be split into areas such as Chitongue Grande, Chimbala, Tenge-Ruoni and, finally, the so-called southern area.

Inferred resources at Ruoni Norte now stand at 93 million tons and at Chitongue Grande increased from 48 million tons to 61 million tons.

With this increase to the company’s iron ore resources estimates in Mozambique, Baobab Resources is getting closer to its announced target of 300 million tons by the end of the year. (macauhub)

MACAUHUB FRENCH