Avenira Ltd (AEV)

Avenira unveils growth plan

Senegalese phosphate producer Avenira Ltd is awaiting the imminent award of a revised exploitation permit that will allow it to grow production to 1 mtpa.

Avenira managing director Louis Calvarin told delegates at Africa Down Under it was “only a matter of weeks” before an expanded 75sq km exploitation permit was tipped to be granted for the Baobab phosphate project.

Under Senegalese mining laws, Avenira was previously permitted to develop and operate a small-scale mine on a 5sq km patch of ground. Mining activities were suspended last year, but the company has continued to process stockpiled ore and sell product to a local phosphoric acid producer.

Avenira is currently undertaking a feasibility study, managed by Wood Group plc, which it hopes to complete this quarter. A BFS is slated to follow.

“We are currently switching from our current small mine permit operation to a full mining lease and we expect that to be secured before too long,” Calvarin said.

“That will encompass 75sq km and the vast majority of our resources [42mt @ 19.4% P2O5 indicated, 320mt @ 16% P2O5 inferred], giving us the right base for investment.”

Avenira recently raised $2.8 million via a share placement to complete the feasibility work.

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