Montero Mining and Exploration Ltd

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Market Cap:
$3.5 m
0.16 CAD
52 weeks high
52 weeks low

Montero Mining & Exploration Ltd is a mineral exploration and development company focused primarily on the exploration, discovery and development of mineral properties in Africa. The Montero management team and Board of directors are experienced in gold, base metals, rare metals, industrial minerals and bulk commodities. Montero has discovered Rare Earth Elements (“REE”) and phosphate deposits in Tanzania and South Africa. Primary assets are the Wigu Hill REE Property in Tanzania and the Duyker Eiland phosphate project in South Africa.
Montero is actively seeking to develop its new battery metals strategy by acquiring and evaluating new lithium and cobalt properties in Africa.

Corporate Vision
Montero Mining & Exploration aims to create value by utilising its Management and Board skills base by taking exploration properties up the value curve from discovery through feasibility and development. Montero with its new battery metals strategy and its current REE’s and phosphates projects aims to create such value. The company has drilled discovery holes, developed NI43-101 compliant Resources and finalised Preliminary Economic Assessment to advance projects for sale or to mine development. Montero’s management will use its skills base and network in Africa to acquire other exploration and development projects through direct license application, joint venture or acquisition.

  • Acquire major interest in exploration projects relevant to current commodity prices, demand and supply
  • Focus on high grade low cost projects in stable mining jurisdictions where the company has experience
  • Focus on Battery metals in Africa, lithium, tantalum, tin and cobalt
  • Acquire, explore and develop Battery metal opportunities
  • Further develop the Wigu Hill REE project in Tanzania
  • Further develop the phosphate projects in South Africa
  • Increase shareholder return by finding exploration stage projects and develop these through successful exploration to a development stage for joint venture and/or sale

Conduct our business in a sustainable manner taking into account all stakeholders including local communities and the environment while maintaining the highest safety standards for all our personnel

Montero Mining & Exploration is focused primarily on the exploration, discovery and development of mineral resources in Africa to create value for our shareholders and benefit all stakeholders. The company has previously been exploring Rare Earth Element and Phosphates in geographically prospective and under-explored regions in Tanzania and South Africa, respectively.

The Company has embarked on a battery metals strategy and is actively engaged in the identification, acquisition, evaluation and exploration of battery metals in prospective Tier 1 countries of southern Africa and in Chile, a Tier 1 country in South America  Montero has entered the lithium exploration field with a focus on high-grade lithium LCT-type pegmatite deposits with spodumene as the main lithium-bearing mineral in Namibia. Other valuable base and rare metals are associated with such pegmatite deposits such as tantalum, niobium, tin, and other rare metals.

Montero has also made a lithium discovery in the Lithium Triangle of Chile, South America. Montero has been awarded Exploration Licenses over an area of 138km2 in the Atacama region of norther Chile.

The board and management of Montero has exploration and development experience in southern Africa with an operational base in Johannesburg, South Africa. In Chile Montero personnel has experience and has also built on the expertise of a “discovery group” of geologists and local QP’s with extensive experience in lithium in Chile.

Montero aims to build a portfolio of value-add mineral projects through application, exploration and acquisition and potentially bring such projects to production through joint venture or outright sale. Montero intends to operate in an environmentally and socially responsible manner while adding value to all our stakeholders and shareholders. We are respectful of local communities in which we operate.

Why Namibia?
Namibia is a Tier 1 African mining investment destination located in southern Africa. Recent mining investments include over $1 billion by CGNPC of China to develop the Swakup uranium Husab mine and the $244 million investment by B2Gold to develop the Otjikoto gold mine. The country has a long history of mining and is a free and open democracy with a stable Government open to mining investment. Namibia has good infrastructure with a deep-water port at Walvis Bay, the necessary skills base and attractive fiscal regime for mining investment.

Montero has targeted hard rock pegmatite deposits rich in lithium or Lithium-Cesium-Tantalum (LCT) Pegmatites. Four major LCT pegmatite belts that trend in a north-east direction have been targeted, one of these contains one of the few lithium mines located in Africa. The pegmatites in these belts have previously been mined or prospected for tin and tantalum which is often associated with lithium minerals. Montero has focused on targeting the main economic lithium minerals spodumene and lepidolite. Tin and tantalum association with lithium also potentially provides additional economic benefit to the mining of the lithium.

Why Chile?
The largest global resources of lithium occur as “Salar brine deposits” located in the Lithium Triangle of South America covering the countries of Chile, Argentina and Peru.

Chile has a strong mining history and is a favoured global destination for mining and battery metals exploration. The country has significant lithium endowment and the “Salar de Atacama” is the world’s largest source of lithium containing 27% of the global lithium reserve base. Major lithium producers operating in Chile include SQM (NYSE) and Albemarle (NYSE). The country’s lithium exports rose to almost a $ 1 billion in 2018. Chile has a stable government that encourages foreign investment with favourable tax treatment on capital expenditure and good corporate tax rate and Government royalty. Chile has good national infrastructure and a mining culture with a large skills base.

Montero has been awarded Exploration Licenses over an area of 138km2 in the Lithium Triangle of norther Chile. The Avispa Lithium Project is a Montero discovery and is located in the Atacama region about 80km west of the town of Calama and 220km north east of Antofagasta, Chile’s largest commercial deep-water port. The project is connected by asphalt road to the ports of Tocopilla and Antofagasta. The Avispa project is approximately 210km by road from the “Salar de Atacama” where SQM and other are mining companies have major lithium mines recovering lithium from brines. The license area was previously held by Spence Mining, a subsidiary of BHP, that was exploring and drilling for copper-molybdenum mineralization.


Namibia & Chile

Dr. Antony Harwood - President, CEO & Director

Tony is an economic geologist with 30 years of international exploration and mining experience and graduated from University of Wales, College Cardiff, with a B.Sc. (Honours) degree and Ph.D in Economic Geology.  Dr. Harwood was appointed President and Chief Executive Officer of Montero Mining & Exploration in June, 2009. Between 2006 and 2009, Dr. Harwood was the President and Chief Executive Officer of Africo Resources Ltd., a Canadian company engaged in exploring, acquiring and developing base metal and gold assets in Africa. Between 1998 and 2006, Dr. Harwood served as a Vice President of Placer Dome Inc., a major Canadian gold mining company. Other professional credits include positions as Executive Chairman of Universal Coal PLC, Director of Adamus Resources, Endeavour Mining, Auryx Gold Corp. (TSXV), East African Metals, African Gold Group, Tesoro Resources and Lappland Goldminers. Founder and MD of Harwood International Ltd., a geological consulting company. Dr. Harwood additionally held a position as a lecturer - University of Wales, Cardiff (UK), University of Natal and University of Durban (South Africa).

Sheri Rempel - Acting CFO

Sheri has more than 30 years of accounting and financial management experience. Ms. Rempel started her career with public companies in 2001 and currently provides senior financial and advisory services to Canadian private and public corporations, acting in officer or controller capacities.

Mike Evans - Chief Geologist & Qualified Person

Mike has an MSc in Geology from Natal University, South Africa. He has over 38 years experience as a geologist including 26 years working with Phelps Dodge Corporation. Mike has worked in over 15 African countries where he has directed mineral target generation and on-site evaluation of properties. This included the establishment of exploration operations and the development of major exploration programs, as well as the management of feasibility studies on two major projects. Mike is a Qualified Person.

Nico Scholtz - Project Geologist & Qualified Person

Nico is a geologist with more than 15 years of experience in the style, genesis and occurrence of base and precious metals, rare and industrial minerals as well as nuclear fuels, precious stones and fossil fuels in varied geological settings. Nico obtained a M.Sc. degree (2003) in Geology at the University of the Free State, South Africa and was subsequently employed as lecturer and research geologist at the same University (2004 to 2006).  Nico has experience in managing multiple exploration programs in early and advanced stages as well as using multidisciplinary techniques in mineral exploration. He is proficient in using 2D as well as 3D mineral exploration software for target generation and Resource Estimation modeling. Nico is a Qualified Person.

Geoff Skelton - Consulting Metarllugist & Project Manager

Geoff is an Industry recognized SX hydro-metallurgist with over 30 years of experience in Base, Precious and Rare and Speciality Metals, hydrometallurgical plant design, construction and operations in South Africa and worldwide. Geoff graduated with a B.Sc. (Hons) Chemical Engineering from the University of Exeter, UK. He spent 21 years with Impala Platinum Refineries filling roles including General Manager and Project Manager where he was responsible for the metallurgical development of state of the art hydrometallurgical separations processes that are incorporated within Impala's Enhanced Precious Metals Refinery in Springs, South Africa.

Baldwin Lema - Country & Logistics Manager - Tanzania

Baldwin has over 30 years experience in Business Management & Administration. He graduated from the University of Dar es Salaam, Tanzania with BA in Economics and a Masters degree in Economic Policy & Planning from the  Institute of Social Studies, The Netherlands. Mr. Lema has worked with local and international companies in Tanzania including: Planning Manager with the National Bank of Commerce and Finance/Admin Manager with Tancan Mining Company. He has worked on a consulting basis with exploration and drilling companies such as Newmont Mining & Exploration, Resource Drilling Ltd, Twigg Gold Ltd and Spectral Geophysics Ltd.


Montero Mining and Exploration Ltd.
Suite 1128 - 789 West Pender Street
Vancouver, BC
V6C 1H2

Tel: +1 416 840 9197
E-mail:  [email protected]