SGM is a Togolese company which owns the exploration permit over the Nayega manganese deposit in northern Togo.
The Nayega deposit covers a large area, mineralisation is at surface and it possesses high grade manganese fragments.
Ferrex managing director Dave Reeves said Nayega represents a substantial and exciting manganese development opportunity in the prospective northern region of Togo.
"The acquisition also marks a significant step for Ferrex, one that sees us delivering on our strategy of pursuing additional low capital iron and manganese projects in Africa, Reeves said.
