Aussie miner clinches Flores manganese project deal

ASX-listed mineral explorer Liberty Limited announced Wednesday it had signed staged exploration and exploitation deal to acquire 70 percent interest in manganese project located in Manggarai regency, in the East Nusa Tenggara island of Flores.

According to the company, the concession area covers an area of 191 square kilometers, adjacent to the area where several small to medium size manganese miners have started open-cut mining operations.

Mining permits for the area are held by Indonesian local company PT. Manggarai Manganese.

Under the deal, Liberty will pay US$100,000 cash upon the deal signature and followed by staged payments upon achieving certain milestones. (alex)