Pan Terra acquires Kombat Copper Project.
Pan Terra has bought the Kombat Copper Project.
Business negotiations between Pan Terra Industries and Manila Investments could have concluded, as Pan Terra has completed its intended acquisition of the firm's Kombat Copper Project.
It has bought 80 per cent of the outstanding and issued stocks of Manila, with the remaining 20 per cent to be shared between Epangelo Mining and local partners in Namibia.
Pan Terra is based in Vancouver, British Columbia, and owns gold prospects in Zimbabwe and Ontario.
President of the company Alexander Hemel said the transaction "represents a tremendous step forward" for his corporation.
It has enabled Pan Terra to position itself as Namibia's "leading consolidator of copper projects", he declared.
The enterprise now wishes to build a mining and processing plant that will be "first class", the representative continued.
"Epangelo will continue to expand its reach in order to realise more value for Namibia's natural resources," managing director of Epangelo Eliphas Hawala remarked.
Posted by Ken Hayes
Source: Pan Terra press release, April 24th