EDITOR: | September 5th, 2013

Balamara Strengthens Togo Phosphate Consortium with Addition of a Global Fertiliser Group

| September 05, 2013 | No Comments
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September 05, 2013 (Source: Balamara Resources) — Balamara Resources Limited (“Balamara” or the “Company”)  is pleased to announce that it has added significant weight  to the  consortium it has assembled for  the  world-class  Togo Phosphate Project in West Africa after  signing a Memorandum of Understanding (“MOU”) with Singapore-based Aries Fertilizers Group (“Aries”).  The MOU provides for Aries to assist Balamara with  offtake and other  key aspects of developing the Togo Phosphate Project in the event that Balamara is successful in the tender process.

Aries,which has decades of experience in the trade and movement of phosphate products (both  as finished goods and raw materials) worldwide,is supported by its strong principal partner,China’s state-owned Guizhou Kailin Group ( 11Kailin”).

With  direct  experience  in all facets of phosphate  from  mining  rock and upgrading to DSO product,  to  production of  phosphoric acid  and  ultimately  fertilizer products,  Kailin  has extensive experience that may be directly  beneficial to Balamara within the Togo Phosphate Project.   Aries  also  has considerable direct  experience  in  the  marketing of  phosphate products.

Kailin has an annual concentrated phosphate  capacity of about 3.5 million tonnes and it has a vertically integrated line of rock mining through to end-user phosphate products.

In 2012 Aries moved over 1.5 million tonnes of phosphate  products  and achieved turnover of approximately US$400 million. The Company has built  a strong network of partners  and relationships across Asia,including all the principal global markets for phosphate products; China,India,South East Asia and Indonesia. These relationships  will be of considerable value to Balamara if it is successful in  winning the  tender  for  the Togo Phosphate Project  and moving ahead with development of the Project.

With  these partners’ assistance, Balamara will be aiming to involve  the Aries Group in the development of the Togo Phosphate Project, providing assistance with all the main areas of project  funding, feasibility, development, construction,infrastructure and engineering and, ultimately, off-take.

Balamara Managing Director, Mike Ralston, said the addition of Aries Fertilizers Group to its consortium was a landmark  event  for  the  Company  in its  campaign to  secure the  Togo Phosphate Project.

“We are delighted to have added a partner with their  quality, experience and resources,to assist us from  this point onwards  in all aspects of the Togo Phosphate tender  process,” Mr Ralston said.

“The  combined  experience  of  Aries  Group  will  add  considerable  value  to  our  overall consortium.   We  look  forward to a successful outcome  of  the  tender  ahd  a  long  and mutually beneficial relationship going forward,”  he added. “Elections  have been recently completed in Togo and we understand that  the tender  process will now resume and move towards a conclusion.”

“We  are building a strong consortium of capable and experienced  partners, providing the Togo Government  with  the  confidence  that  Balamara can deliver  the  outcomes  we have outlined in our tender.  We will continue to consider additional partners to our consortium as we move forward if further partners can add value to this process.”


Raj Shah

Editor:

Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>


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