Enso Group acquires 12 fresh concessions in West Africa

Mining
Date: 16-05-2014

Enso Guinea Holdings Limited through its subsidiaries has acquired 12 mines to add to its existing portfolio of 7 mines in West Africa. 
These are 4 concessions of base metals including copper, nickel and zinc and 5 concessions of Bauxite in the highest producing region of Bauxite in the world.
This region which is famous for gold production has large untapped reserves of gold where artisanal mining continues. For thousands of years, these artisans have been the best indicators of gold reserves and Enso has acquired 4 highly prospective mines. "Prospecting work will begin in all these mines and we have raised sufficient capital to see them through to scoping study", said Vinay Maloo, Chairman of Enso Group.
"We are waiting for the rains to subsite before we begin prospecting work aggressively across all the mines. Logistically, its difficult to operate in this season", said Ashok Kumar, Group President.
Enso Group is a diversified conglomerate which entered this industry in 2010 with a previous portfolio which was discarded due to operational issues.
They were in talks with various industrial groups but decided to take upon the highly lucrative business by themselves.


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