ianci International, Inc. (NASDAQ:CIIT), a global logistics service provider specializing in ocean freight forwarding and the distribution of high-grade metals, today announced that it has signed a non-binding Strategic Cooperation Memorandum of Understanding (MOU) with Zimbabwe-based mining and trading company GREYPOLE MINERAL RESOURCES ("Greypole Mining"). The MOU contemplates that Tianci and Greypole Mining will negotiate and enter a formal partnership agreement in order to leverage each party's strengths in capital markets, technological integration, and exploitation of mineral resource reserves to jointly advance exploration, extraction, and the acquisition of gold and chromium resources in Zimbabwe.
The MOU contemplates that, upon execution of the partnership agreement, the collaboration will focus on the following core areas:
Exploration and Extraction of Gold and Chrome Resources
The parties will jointly conduct mining operations with respect to approximately 500 hectares of gold mining concessions in the Gwanda region of Zimbabwe and approximately 1,500 hectares of chromium concessions in the Zvishavane region or Zimbabwe.
Application for and Acquisition of Exploration and Mining Rights
Greypole Mining will assist in the compliant application for exploration and mining rights within the designated project areas. Both parties have agreed to adopt a phased implementation approach to comprehensively address regulatory requirements and ensure smooth operational deployment of the mining concessions.