Kennedy Ventures PLC Successful Commissioning of Process Plant (2931E)
2015年11月3日 - 4:00PM
RNSを含む英国規制内ニュース (英語)
TIDMKENV
RNS Number : 2931E
Kennedy Ventures PLC
03 November 2015
3(rd) November 2015
Kennedy Ventures plc
("Kennedy Ventures" or "the Company")
Successful Commissioning of Process Plant at Tantalite
Valley
Kennedy Ventures plc, which is focused on tantalite production
in Namibia through its 75% holding in African Tantalum (Pty)
Limited ("Aftan"), is pleased to announce the successful and within
budget commissioning of Aftan's tantalite process plant at the
Tantalite Valley Project in southern Namibia.
The mine is now virtually fully staffed, with a full water
supply and has been restocked with additional spares to minimize
any future mechanical downtime. It is expected that new underground
production will be available for processing during the course of
this month. Plans have been emplaced to expedite output and first
deliveries to our offtaker are now anticipated during November
2015.
It is expected that production will now ramp up to an initial
target rate of 10,500 tonnes per month, estimated to produce around
5,000lbs Ta205 per month in the second quarter of 2016.
Peter Hibberd, CEO of Kennedy Ventures said:
"We are delighted that production of 'conflict free' tantalum
has recommenced at the mine. This is a major milestone as Aftan
continues to progress towards becoming a material producer of
tantalite. We look forward to making our first delivery to our
off-taker in the near future. Initial indications from the mine
have confirmed that Aftan's targeted production levels remain
realistic and achievable."
"In the medium term, we are greatly excited about the potential
of Tantalite Valley and the potential to expand operations both in
terms of geography and possible products".
ENDS
For further information, please contact:
Kennedy Ventures plc 020 3757 4983
Peter Hibberd c/o Billy Clegg
Cenkos Securities (Nominated
Adviser and Joint Broker) 0131 220 6939
Derrick Lee / Nick Tulloch
Shore Capital (Joint Broker) 020 7408 4090
Mark Percy / Toby Gibbs (corporate
finance)
Jerry Keen (corporate broking)
Peterhouse Corporate Finance
(Joint Broker)
Duncan Vasey 020 7469 0935
Camarco
Billy Clegg / Georgia Mann
/ Tom Huddart 020 3757 6983
Notes to editors
Tantalite concentrates form the vast majority of feedstock for
all tantalum products. As such they are critical and unreplaceable
parts of a wide range of modern electronics including computers,
tablets, mobile phones, motor components and video game
systems.
Aside from electronics, tantalum has significant usage in super
alloys, specialised steels, corrosion resistant equipment and
medicine.
Tantalum's applications are based on its unique physio -
chemical properties. The oxides and metal have extremely high
melting points, high heat conductivity and strong resistance to
corrosive environments. Combined, these factors have entrenched its
international demand and made it an important component of numerous
research projects and new technologies.
Trade pricing is following tantalum markets as per Asian Metals
and Metal Pages.
In August 2012, the US Securities and Exchange Commission
adopted a rule mandated by the Dodd-Frank Wall Street Reform and
Consumer Protection Act to require companies reporting to the SEC
to publicly disclose the origins of the tantalum they buy in order
to restrict the use of conflict minerals that originated in the
Democratic Republic of the Congo or an adjoining country. As a
result, users of tantalum are encouraged to demonstrate that their
supply chain is transparent to ensure that conflict-free tantalum
is procured.
It is intended that the tantalum produced by Aftan will be
conflict-free.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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