Tantalex awarded mining licence for DRC project
Exploration and development company Tantalex Lithium Resources’ 70%-owned Democratic Republic of Congo (DRC) subsidiary United Cominiere has been notified by the Ministry of Mines that research permits PR12447 and PR12448 have now been approved by Ministerial Decree for transformation to mining concessions.
Tantalex may now proceed immediately with the construction of its proposed Titan tin and tantalum alluvial concentrate plant.
The project is expected to produce about 1 400 t/y of tin concentrate and 220 t/y of tantalum concentrate, generating about $30-million a year in revenue at current commodity prices.
Production is scheduled to begin in March 2023.
Equipment and machinery have already arrived for trial testing at Manono, ready for assembly on site.
“This is an incredible milestone for the company as this will be generating positive cashflow for the company in early 2023. It will be the most modern alluvial plant in operation in the DRC and we believe this is likely only the first one of many more that we will install.
“As we progress with the development of the Manono lithium tailings project, our Titan project demonstrates to our investors, the DRC government and the local stakeholders that Tantalex is serious in actually building production facilities in a sustainable manner,” comments board chairperson Hadley Natus.
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