Maxtech Ventures Inc. is pleased to announce that it has entered into a strategic development partnership with Morocco-based Green Energy Resources to evaluate established mineral and mining concessions in Morocco for potential acquisition or joint venture.
GER and Maxtech are actively evaluating several advanced stage manganese assets in Morocco with an emphasis on fully permitted mining concessions with established histories of manganese production. These existing permits have been targeted for either 100% purchase or joint venture. The Company expects to report on its negotiations shortly.
The mining industry of Morocco is important to the North Africa region and the national economy of Morocco. The country is the world's third largest producer of phosphate, and contains about 75% of the world's estimated reserves. Mining contributed for approximately 35% of exports and 5% of GDP in 2011. Foreign investors have found the investment climate, infrastructure, fiscal situation, and political stability very favourable to the mining business (http://data.worldbank.org/country/morocco).
Peter Wilson, CEO of Maxtech said "This partnership provides a unique opportunity for Maxtech to expand into Morocco with a goal to eventually supply manganese into the European marketplace. It is an excellent jurisdiction in which to operate and with the help of Green Energy's in-country presence we will be able to evaluate new manganese claims efficiently."