African Consolidated Resources (AFCR) has officially announced yesterday that it has concluded an agreement with Remin Baia Mare in order to evaluate a mining partnership. BURSA was the first to exclusively announce, back in May, that the South African company may be interested in Remin. Together with the AFCR, two other investors expressed interest as well - Romaltyn, which subsequently denied that it was interested in Remin - and Metal Finance Europe.

The memorandum between the AFCR and Remin has a six-month validity period, providing the possibility of conducting the necessary due diligence, according to a press release sent by the AFCR to our editors.

Andrew Prelea, CEO of the Romanian branch of AFCR told us: "We have spent six months reviewing the opportunities which the Romanian mining sector has to offer. Remin was a giant, a company that created thousands of jobs directly and indirectly, which made it the logical choice for our studies. In the next six months we will continue this review with the due-diligence procedure, which involves significant budgets. We want this cooperation to lead to direct foreign investments and to allow the bringing back of many jobs. In the coming weeks, we will bring in a team of international experts, which will train the employees in the use of the latest technologies, thus we have total confidence in the ability and capacity of the local professionals".

According to the statements of the representatives of African Consolidated in Romania, the company has begun evaluating the mining opportunities in Romani in October 2012.

Also, in the press release sent by the AFCR, the company is presented as operating in mining exploration and exploitation, as it is registered on the London Stock Exchange (AIM).

In its press release, the South-African company claims it has come to Romania, following the invita