KAMLOOPS, B.C. - Anglo Aluminum Corp. (TSXV:ALU) says it plans to spin off its Mamou-Dalaba bauxite permits into a new publicly listed company to be called Africa Bauxite Corp.
The four permits that make up the Mamou-Dalaba project cover about 1,800 square kilometres in southwest Guinea.
Anglo Aluminum said the proposed spin-off will allow it to focus on the Koba-Koumbia bauxite project in northwestern Guinea in western Africa.
The proposed transaction requires approvals from Anglo Aluminum's shareholders and the Supreme Court of British Columbia. The stock listing would require an approval from the TSX Venture Exchange.