(MENAFN- ProactiveInvestors)
(ASX:PLS) is poised to take the leap from explorer to producer as first commercial production of tantalum looms from the Pilbara in Western Australia.
First commercial shipment of tantalite concentrate is due in the coming weeks.
With final site operations commencing at the Tabba Tabba Tantalum Project located 70 kilometres south-east of Port Hedland for a 120000 tonnes per annum processing facility the company will become a high-grade low cost producer of tantalite concentrate.
Pilbara has a 50% interest in an joint venture with unlisted Nagrom Mining Pty Ltd over the project.
Proven Reserves are 32000 tonnes at 1420ppm Ta2O5 totalling 100178 pounds of Ta2O5. Combined total resource is 666200 pounds of contained Ta2O5.
All production from the project is sold to Global Advanced Metals Wodgina Pty Ltd under a 5-year off-take agreement.
Tantalum is a strategic metal and an interesting market which is showing growth due to its use in capacitors in wireless and hand held devices.
During the quarter two capital raising initiatives raised $6.5 million on the road to production.
Proactive Investors Australia is the market leader in producing news articles and research reports on ASX emerging companies with distribution in Australia UK North America and Hong Kong / China.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.