Kazera receives second payment of $400 000 in lithium deal
Aim-listed investment company Kazera Global has received the second payment of $400 000 in accordance with the terms of a deal signed with Chinese company Hebei Xinjian Construction, as announced on July 20.
Under the terms of the deal, Kazera will receive a $7.5-million investment from Hebei in return for a 49% stake in its marketing, sales and export subsidiary African Tantalum for all lithium production from its wholly owned mine at Tantalite Valley, in Namibia.
The investment would consist of a mixture of cash, machinery and services, with a minimum of $2.5-million payable to Kazera in cash. The first payment of $100 000 was paid on July 25 and the second tranche of $400 000 on August 15.
"The timely receipt of the second instalment of the investment under the lithium deal, highlight[s] Xinjian's positive outlook for Kazera's joint venture,” Kazera CEO Dennis Edmonds said.
The remaining balance in instalments will be due on or before January 31 next year.
“We are now focused on maximising this investment in our Namibia operations with a view to also substantially increasing tantalum production this year, and to commence lithium sales in the first quarter of 2023 for which the global energy landscape and the importance of materials linked to the electric revolution continues to grow apace by the day,” Edmonds said.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation