Tantalum deal for Bald Hill

Osborne Park-based Tawana Resources has secured an offtake agreement for tantalum at its joint venture Bald Hill project, located south of Kambalda.

Tawana has partnered with Alliance Minerals Assets at the Bald Hill operation and the JV said it had executed a non-binding term sheet for the supply of 600,000 pounds of tantalum concentrate.

Tantalum production is expected to commence at the project in the first half of the year, with the agreement to run from April 2018 until the end of 2020.

The JV said the deal had been secured with a leading international tantalum industry specialist.

AMA chief executive Tjandra Pramoko said the offtake agreement was significant.

“This is another significant milestone for the Bald Hill JV in its quest to become a lithium and tantalum producer in the first half of 2018,” he said

“With the Bald Hill Mine due to commence tantalum production in the first half of 2018, we are pleased to have reached a tantalum supply agreement with a true market leader in the field.

“At the same time, we are also continuing discussions with other third parties for sale of excess tantalum concentrate.”

Shares in Tawana were down 1.6 per cent at 1245pm AEDT.