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Tantalum venture gets nod

AUSTRALASIAN Gold Mines has finalised a $14.6 million tantalum venture with US-based electronics giant KEMET Corporation.

It has created Tantalum Australia in which KEMET has paid $10 million to take 50 per cent alongside Australasian and a $4.6 million placement by Australasian into KEMET.

Tantalum Australia will own and fund the development of Australasian’s existing tantalum assets and seek new project opportunities on a global basis.

Australasian managing director Michael Fotios said the deal had been strongly supported by its shareholders.

“We believe the tantalum industry offers excellent growth opportunities, not just in the current strong market but also in the long-term,” Mr Fotios said.

Australasian’s Australian assets include the Dalgaranga Tantalum project and the Binnergingie Project – both in WA – and the Walwa Tantalum Project in Victoria.

Tantalum is used in capacitors.

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