The Resource

The ore has been proven to have between 30 - 40% of manganese. The world demand for manganese ore is ever increasing and even with several competitors, there is an assured market for the mineral as quality manganese ore is a fairly scarce resource throughout the world. Manganese is the major ingredient to be added to iron ore when manufacturing steel, stainless steel etc.

Our targeted customers are the rapidly expanding in markets of China, USA and India etc out of which we already have confirmation of their intent to purchase in large orders.

Our forecast is based on a manganese ore price of USD 7 per DMTU this price based upon world average. Cost of production will fluctuate from 30% to about 50% due to changes in some variables. This is a conservative forecast and sales figures are bound to be higher than projected and with operational costs lowering as the production volume increases.

The company has carried out three surveys in the area of EPL270.

The first one was an exploration report to verify the quality and estimate the quantity of manganese ore and its commercial viability within this area, being between 0-3 metres from the surface. (Approximate quantity indicated within the report was between 40 -100 million tonnes of manganese).

The second report conducted over the same area was a Geophysical Mag Report using a VES sounding technique. This showed a body of ore 200m in width and 100m plus in depth, over a length of 5kms. (Approximate quantity indicated within the report reflected 1.25 billion tonnes of ore).

The third survey was an Independent Assessment Report by a firm named Kama Ltd.

A Diligence Report and Independent Assessment was made on the previous exploration reports. The findings only confirmed that the previous exploration reports were understated as to the quantities of ore in the area.

Universal Resources International Ltd has now been granted a Mining License ML/2018/0046 measuring 1.88 sq. kms. 

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