- Tantalex Lithium Resources (TTX) has received two new mining permits from the government of the Democratic Republic of the Congo
- The permits pertain to the Toronto-based mineral exploration company’s TiTan tin and tantalum alluvial concentrate plant
- Construction can now begin on the plant, which will be operated by the company’s subsidiary, United Cominiere SAS
- Once completed, the plant could generate up to US$30M in annual revenue at current commodity prices
- CEO Eric Allard joined Sabrina Cuthbert to discuss the news
- Tantalex Lithium Resources is a mineral exploration, and development company focused on lithium, tin, tantalum and other high-tech minerals in Africa
- Tantalex Lithium Resources (TTX) opened trading at C$0.085
Tantalex Lithium Resources (TTX) has received two new mining permits from the Congolese government.
The permits pertain to the Toronto-based mineral exploration company’s TiTan tin and tantalum alluvial concentrate plant.
Construction can now begin on the plant, which will be operated by the company’s subsidiary, United Cominiere SAS.
Once completed, the plant is expected to produce approximately 1,400 dmt of tin concentrate and 220 dmt of tantalum concentrate annually. At current commodity prices, that amount would generate up to US$30M in annual revenue.
Equipment and machinery have already arrived at the construction site.
Production is scheduled to begin in March 2023.
The TiTan Project is situated approximately 30 kilometres southwest of where Tantalex is developing the Manono Lithium Tailings Project.
TiTan is located along a pegmatite deposit in the Central African Kibaran Belt. This includes Manono-Kitotolo, an exceptionally large rare-metal pegmatite 800 metres wide and over 15 kilometres long that was exploited for cassiterite and columbite-tantalite from 1913 to the 1980s.
“This is an incredible milestone for the company as this will be generating positive cash flow 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 about actually building production facilities in a sustainable manner,” said Tantalex Chairman Hadley Natus.
CEO Eric Allard joined Sabrina Cuthbert to discuss the news.
Tantalex Lithium Resources is a mineral exploration, and development company focused on lithium, tin, tantalum and other high-tech minerals in Africa.
Tantalex Lithium Resources (TTX) opened trading at C$0.085.