Pilbara makes a play for Tabba Tabba
PERTH (miningweekly.com) – Strategic minerals company Pilbara Minerals has announced plans to acquire full ownership of the Tabba Tabba tantalum project, in Western Australia.
Pilbara currently holds a 50% interest in a joint venture with Valdrew Nominees, trading as Nagrom & Co, over the Tabba Tabba project.
The ASX-listed junior told shareholders that the proposed acquisition was consistent with Pilbara’s objective to build a substantial strategic metals company, producing high-grade tantalum and lithium from its projects in the Pilbara region.
It was envisaged that Nagrom would continue to be involved in the project by providing the appropriate services to support the mining and processing operations of the Tabba Tabba project.
While the commercial terms of the transaction have been largely agreed, final contractual arrangements and binding documentation remain to be finalised with all parties, including with Global Advanced Metals Wodgina (GAM), which owns the underlying Tabba Tabba tenements.
The mine is being developed under a mining and offtake agreement with GAM, which includes a fixed price five-year offtake for tantalite concentrate.
The project is at an advanced stage with processing plant and mine camp construction complete and mining scheduled to start in the third quarter of this year, subject to receipt of final operating permits from the state government.
A 2014 feasibility study estimated that the project could produce about 365 000 lb of tantalum over a 19-month mine life, and would require a capital investment of A$3.9-million.
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