Cancana Resources Corp. is focused on exploring and developing the BMC manganese project in Brazil with its joint venture partner Ferrometals, a special purpose investment vehicle for The Sentient Group. Sentient is a resource-focused private equity fund with approximately $2.7Bn in assets under management, and a 15-year track record for advancing resource projects from early stage to pre-feasibility and development.
Cancana and Ferrometals are employing a two-pronged strategy at BMC. The primary objective is to advance BMC to an initial resource and onward to pre-feasibility, while also expanding current small-scale production to support those exploration activities.
Manganese is primarily used in the production of steel, however the high-grade and high-purity nature of the material produced at BMC qualifies as ‘agricultural-grade’ manganese and can be sold at a premium. It is in this niche agricultural manganese business that Cancana and Ferrometals are focusing their sales strategy.