Brazilian mining company Talon Metals will acquire Bancor Mineracao for $20m, payable over ten years.

Bancor, a subsidiary of Kmine Holdings, has eight potash project areas comprising 36,402ha in the Sergipe and Alagoas states of Brazil.

It also holds exploration rights in three project areas and has applied for licenses in the remaining five.

Exploration data for the area indicates 25m of potash mineralisation in three sedimentary units in just one well of Bancor’s Sergi project area.

By staff writer