FOR IMMEDIATE RELEASE
Monday, July, 9 2012
Johannesburg, South Africa, Harare, Zimbabwe, Vienna, Austria, Tokyo, Japan – July 9, 2012 – African Compass International Limited (“ACI” or the “Company”), today announced it has signed a Share and Purchase Agreement (the “SPA”) with a strategic partner that lays the foundation for the two to jointly evaluate and develop ACI’s tungsten mining project in the Garahanga Karoi area of Zimbabwe and other opportunities.
The SPA was signed by Julian Rupare, Jr., ACI CEO; and a representative of the partner. The agreement calls for a strategic, cooperative relationship in multiple areas in mining and trading.
The alluvial and near-surface 300 hectares rare earth Tungsten project has options signed to acquire neighbouring claims to the north and north-east in the Mashonaland Central Province, north of the capital city, Harare, Zimbabwe. The tungsten mine samples taken of the claims to date had a tungsten grading with respect to radiation measurements for the material found to be of low levels of common pollutants (Pb, As and others).
About ACI
African Compass International (“ACI”) is a global diversified private natural resources company in frontier, emerging/established emerging and developed markets. The Group farms, explores, sources, refines and produces, inter alia, agriculture products, base metals, ferrous & non-ferrous metals, minor metals, platinum group metals, precious metals, oil & gas and commercial energy. Our diversified operations in Africa, South America and Eurasia are supported by offices in Austria, Canada, Japan and Zimbabwe. ACI always seeks partnerships with all its stakeholders that will add value to projects at hand based on the core values of honesty, integrity and vision.
Supporting Resources: please visit www.africancompassinternational.com; follow @Afrikancompass on Twitter, or join ACI on LinkedIn.
For and on behalf of the Company’s Board of Directors
Julian RUPARE, Jr.
CEO & Chair
GLOSSARY OF TERMS:
The following are the main terms and abbreviations used in this webnews:
ACI African Compass International Limited and/or its subsidiaries, as appropriate
As Arsenic
CEO Chief Executive Officer
CLO Chief Legal Officer
Company African Compass International or African Compass International Limited
COO Chief Operating Officer
Pb Lead
SPA Share and Purchase Agreement
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African Compass International
Johannesburg | Harare | Vienna | Tokyo
Directors J Rupare Jr (CEO) C N Rupare (COO) U Mazunga (CLO)
