Buxton acquires Arizona manganese exploration project
Australia-listed Buxton Resources on Tuesday announced an agreement to acquire a manganese brownfield exploration project in Arizona, US.
The Matrix manganese project, in Mohave county, is adjacent to the Artillery Peak project, which has a resource of 277-million tonnes at 2.8% manganese.
Buxton said that mapping by the Arizona Geological Survey indicated good potential for known resources to extend onto the Matrix tenure.
CEO Marty Moloney said that the project acquisition provided Buxton with a low-cost option on the high-purity manganese sulphate market that was predicted to grow substantially over the next five or six years.
“The US currently relies 100% on manganese imports and significant incentives, such as the Biden Administration’s massive Inflation Reduction Act, are available for critical mineral projects,” noted Moloney.
Buxton plans to start work on the ground in the third quarter, with drilling designed to test extensions of known manganese mineralisation expected in the fourth quarter.
The company will earn-in to 100% ownership of 154 BLM lode mining claims by spending A$1-million over two years. Buxton will also issue Solution Metals A$150 000 in shares within 20 days after executing the agreement and a 1.5% net smelter return royalty. At the two-year anniversary, Buxton will issue Solution Metals a second tranche of A$100 000 in shares.
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
We are responsible manufacturers of essential components. Manufacturing 80 million parts a week, we have over 1 billion parts in stock.
VISIT SHOWROOM
ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
