VANCOUVER, British Columbia, May 09, 2017 (GLOBE NEWSWIRE) -- Great Quest Fertilizer Ltd (TSXV:GQ) (“the Company”) is pleased to announce that it has entered into partnership with Salam Mineau SARL to create a jointly owned and managed Malian mining and trucking company for the development of the Tilemsi phosphate deposit.
Great Quest has maintained a view that local partnership is an important part of the strategy for success in the dynamic geopolitical landscape of northern Mali. Ensuring the community we operate in has a vested interest in the success of our enterprise and the regular delivery of phosphate material.
The Agreement
Salam Mineau and Great Quest will jointly create a Malian company (“NewCo”) to complete mining task on the Tilemsi mining permits, transport mine material to the planned beneficiation plant and transport enriched phosphate rock to the planned blending and granulation facility. The NewCo will have a 6 member board of directors, 4 appointed by Great Quest and 2 appointed by Salam Mineau. Great Quest will designate a Director General and Finance Director and Salam Mineau will designate the Director of Operations. Salam Mineau has an option to earn or purchase equity in NewCo up to 33%.
Salam Mineau SARL
Great Quest has enjoyed a lengthy working relationship with Salam Mineau as the contractor of its drilling and exploration programs. Salam Mineau was founded in Northern Mali as a drilling company initially drilling water wells in remote communities throughout the Malian Sahara, the company now provides geotechnical services for construction and mining ventures in all parts of the country. Salam Mineau works safely without incident in all parts Mali’s Gao, Kidal and Tombouctou provinces. Company CEO, Madame Hafissatou Haïdara is a serial entrepreneur, with a long history of successful ventures in the areas of transport, consumer products and mine services.
Commenting, Jed Richardson President and CEO, “In Mali’s north, it is important that as a company we operate with local employees, local management and meaningful local ownership that we can trust. We get all of these things with Salam Mineau and CEO, Madame Hafissatou Haïdara. This is more than good public relations or corporate social responsibility efforts, it transforms the inherent risks of the work we are doing.”
About Great Quest
Great Quest Fertilizer Ltd. is a Canadian mineral exploration company focused on the development of African agricultural mineral projects for local production of farm ready fertilizers. The Company’s flagship asset is the Tilemsi Phosphate Project, encompassing 1,206 km² in northeastern Mali, containing high quality phosphate resources amenable to use as direct application fertilizer. Great Quest is listed on the TSX Venture Exchange under the symbol GQ, and the Frankfurt Stock Exchange under the symbol GQM.
ON BEHALF OF THE BOARD OF DIRECTORS OF GREAT QUEST FERTILIZER LTD.
“Jed Richardson”
President, Chief Executive Officer and Director
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