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Dutwa Nickel
Summary of Proposed Investment

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only.

Project number 29062
Company nameAfrican Eagle Resources
Country
Tanzania, United Republic of
Sector1Nickel
Environmental categoryB
Department
StatusCompleted
Date SPI disclosedNovember 9, 2011
Projected board dateDecember 12, 2011
Previous EventsInvested: February 6, 2012
Signed: December 23, 2011
Approved: December 16, 2011
View Environmental & Social Review Summary (ESRS), click here
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  Overview     Sponsor/Cost/Location     Development Impact     Contacts     Attachments  

Project description
African Eagle Resources ("AFE" or the "Company") is a junior mining company with several exploration properties in Tanzania and Zambia. Its main focus is the advanced stage Dutwa nickel laterite project in north central Tanzania (“Dutwa” or the “Project”).
At Dutwa, the Company has delineated a JORC-compliant resource of 98.6 metric tons at 0.93% nickel and 0.02% cobalt making it the 6th largest nickel deposit in Africa. AFE’s plan is to develop a nickel mine and concentrating plant at Dutwa and to export its product to international markets.
AFE is seeking an equity investment from IFC to help finance the ongoing Dutwa feasibility study. IFC’s engagement will also help AFE develop the Project in line with industry best practices in environmental and social sustainability.

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