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Central African Republic : AFRICAN RAILWAY AND PORT SERVICES signs temporary infrastructure access deal with TIMIS MINING.

A subsidiary of African Minerals, African Railway and Port Services, has entered into a temporary infrastructure access deal with Timis Mining Corporation.

The deal covers transportation services for TMC's Marampa product using AML's rail and port operations.

ARPS had been discussing an interim infrastructure access deal with TM before to the temporary cessation of operations. Given the change of operational and financial circumstances, it is not appropriate to enter into this arrangement, as it would not be possible for ARPS to deliver the required services at this time.

According to Mr Alan Watling, CEO of African Minerals, "Reaching a temporary access agreement with Timis Mining Corporation safeguards the continued operation of the Marampa mine and maintains essential economic benefits in the region. This temporary agreement will fall away on when operations are resumed. Whilst management continues every effort to secure funding to resume operations, negotiations have not materially progressed since our announcement of 1 December 2014. There remains no certainty that a funding solution for the company will be forthcoming."

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Publication:Mena Report
Date:Dec 16, 2014
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