Tantalex Announces Signing of Strategic Agreement
TORONTO, ONTARIO--(Marketwired - Jun 8, 2016) - Tantalex Resources Corp. (CSE:TTX)(FRANKFURT:1T0) ("TANTALEX" or the "Corporation"), is pleased to announce that its wholly owned subsidiary, United Materials Congo SARL ("UNITED MATERIALS" or "UMC"), located in the Katanga province of Democratic Republic of Congo ("DRC"), has signed a definitive agreement with a local mining cooperative, namely La Coopérative Minière pour le Développement Intégré du Congo ("CMDIC"), whereby CMDIC will become a sub-contractor to UMC, and as such, will supply UMC exclusively to the entirety of the Tantalum Pentoxide concentrate (Ta205) produced by local entities. In return, United Materials will provide CMDIC with technical manpower, equipment and other resources in order to contribute to the sustainability of the region's small mining sites.
Dave GAGNON, Chief Executive Officer of TANTALEX, explains: "This agreement marks a milestone in Tantalex's evolution toward being a producer of strategic metals. We have spent the last few years laying the ground work in gaining access to reliable sources of concentrate for metals such as Tantalum (Ta), Tin (Sn) and Cobalt (Co). This is the first step in the right direction to becoming one of the key players in the high-tech minerals sector."
Tantalum; a metal in continuous demand
Tantalum is a rare metal that is corrosion-resistant and is extraordinarily resistant to heat and wear. Added to metals to create superalloys, it's invaluable to the aerospace industry. Its properties render it important to the medical field for uses such as laboratory equipment. Most importantly, tantalum is a crucial component in the electronics industry, used first and foremost in the creation of tantalum capacitors, found in cellphones, DVD players, computers and many other applications. It accounts for more than half of global Tantalum consumption.
Mining in Katanga, DRC
The province of Katanga is located in the south DRC. The eastern part of the province is an enormously rich mining region, which supplies much of the world's cobalt, as well as extensive quantities of copper, tin, radium, uranium, and diamonds. Furthermore, Katanga holds one of the world's largest resources of Tantalum. Since the region has an abundance of mineral resources, it is home to local as well as foreign mining companies. The DRC's mining sector is expected to grow substantially on the back of the growing interest from mining companies from China, Australia, Canada, the UK and the US, among others, due to the large untapped mineral reserves and perceived low mining costs. The country received about $8bn in investment during 2009-12 with the majority being invested in the mining sector. (Source: 2014 KPMG International Cooperative)
About TANTALEX Resources Corporation
TANTALEX is a mining exploration and development company engaged in the acquisition, exploration and development of Tantalum and high-tech mineral properties in Africa. The Company is listed on the Canadian Stock Exchange (symbol: TTX) and the Frankfurt Stock Exchange (symbol: 1T0).
Cautionary Note Regarding Forward Looking Statements
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although TANTALEX believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, TANTALEX disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
The Canadian Securities Exchange (CSE) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy.
For further information, please contacts Investor relations: ir@tantalex.ca
Or visit us at: WWW.TANTALEX.CA
Contact
Tantalex Resources Corp.
Dave Gagnon
Chief Executive Officer
+16479637476
dg@tantalex.ca
Tantalex Resources Corp.
Kyle Appleby
Chief Financial Officer
+14164179176
ka@tantalex.ca