It is reported that iron ore and manganese development firm Ferrex has acquired an 85% interest in Societe Generale de Mine.

SGM is a Togolese company which owns the exploration permit over the Nayega manganese deposit in northern Togo.

The Nayega deposit covers a large area, mineralization is at surface and it possesses high grade manganese fragments.

Mr Dave Reeves MD of Ferrex said that Nayega represents a substantial and exciting manganese development opportunity in the prospective northern region of Togo. He added that "The acquisition also marks a significant step for Ferrex, one that sees us delivering on our strategy of pursuing additional low capital iron and manganese projects in Africa."

(Sourced from www.energy-business-review.com)