10 MARCH 2016Altech Chemicals Press Release
Altech Chemicals announces kaolin mining rights agreement terminated
Edited by : AL CIRCLE
1 min read
Altech Chemicals Limited announced that it has terminated the agreement with Dana Shipping and Trading S.A. to grant Dana the exclusive right to mine up to 10Mt of kaolin from the company's Meckering kaolin deposit.
Under the terms of the kaolin mineral rights agreement, if the First Condition had not been satisfied by the First End Date, being 28 January 2016, then either party may terminate the Mining Rights Deed by notice to the other.
As the First Condition has not yet been satisfied, Altech has elected to terminate the Mining Rights Deed and to continue to be focussed on finalising the detailed design and securing funding for the construction of its High Purity Alumina (HPA) project.
Under the terms of the kaolin mineral rights agreement, if the First Condition had not been satisfied by the First End Date, being 28 January 2016, then either party may terminate the Mining Rights Deed by notice to the other.
As the First Condition has not yet been satisfied, Altech has elected to terminate the Mining Rights Deed and to continue to be focussed on finalising the detailed design and securing funding for the construction of its High Purity Alumina (HPA) project.
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