Amigo signs $33m agreement for South Africa’s Kamiesberg mineral sands project

[SMM Titanium Flash] Amigo Resources said on 28 September that its subsidiary signed a share purchase agreement to acquire the Kamiesberg mineral sands project in South Africa’s Northern Cape through two holding companies. The proposed price is US$33 million, subject to working-capital and debt adjustments. Kamiesberg has a reported JORC mineral resource of 2.71 billion tonnes and contains ilmenite, a titanium dioxide feedstock, alongside rutile, zircon and monazite. The company estimates eventual output of about 505,000 tonnes a year of sulphate ilmenite under its current mine plan.

This is a signed agreement, not a completed acquisition or producing mine. Closing depends on shareholder and regulatory approvals, including South African ministerial consent for a change of control, and Amigo still intends to raise development funding. Its proposed first processing module would cost about US$15 million and be commissioned within six months of completion; both timing and output are company targets. The deal could add a large South African titanium feedstock project to Amigo’s African portfolio if the conditions and funding are met.