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Varun Industries Signs Memorandum of Understanding with Cluff.

India, Aug. 19 -- Varun Industries has entered into a Memorandum of Understanding with Cluff Resources Pacific NL, an Australian company, for a joint venture, for exploration and development of gold, platinum and gem stone projects on the highly prospective tenements in Southern Madagascar.

Incidentally Varun group holds mining license for that area.

Preliminary investigations of the area have indicated the presence of alluvial sediments containing both gold and platinum.

The focus of the joint venture would be to carry out a detailed mapping assessment of the area, with Cluff providing highly qualified Australian geologists and applying its technology.

This agreement would allow the development of a potentially successful strategic alliance and create relationship synergies between the two parties.

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Publication:The Industry 2.0
Date:Aug 19, 2010
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