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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.

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To: Jim Bishop who started this subject11/29/2000 6:38:26 AM
From: cavan   of 150070
 
CRVV-Article over on RB that mentions ColumbiaRiver!African tantalum: Plenty of scope for the development of this rare commodity…
We regularly receive requests for information about tantalum, a little known but highly prized metal which has a number of strategic industrial applications. Africa has the potential to meet part of the growing demand for tantalum.

Although global reserves appear healthy at approximately 144 Mlb of tantalum, the bulk of this rare metal is produced by six mines, two in Australia, two in Brazil and one each in Canada and China. Global consumption is estimated at about 2 Mlb of which the USA consumes more than half at 1.2Mlb. Australia’s Sons of Gwalia supply about 60% (in terms of quantity and value) of the US’s imports of tantalum concentrates. Consumption of tantalum has been growing at an average of about 15% annually over the last few years, causing even the US’s DLA (Defence Logistics Agency) to release tantalum concentrates from its National Stockpile in 1998 and 1999. As a result of the increased demand, new production has been encouraged from several smaller producers. Currently, most producers supply processors with tantalum concentrates on a long-term contract basis.

Due to its high price and scarcity, tantalum is considered as a speciality metal used in capacitors, cemented carbides, chemical equipment, and high-temperature and speciality alloys. More than 60% of the tantalum produced every year is used to produce tantalum capacitors, with the demand for these components expected to reach 25 billion units in 2000. Tantalum capacitors are used in many applications such as computers, telecommunication devices and electronic systems of motor vehicles.

Tantalum is generally found in economic concentrations in the mineral Tantalite, which is normally occur with late stage pegmatites that are associated with granitic intrusions. Economic mineral concentrations commonly occur where weathering has led to residual or placer deposits. In Africa, Nigeria, Mozambique and Uganda have the most potential, followed by Namibia and Equatorial Guinea. Currently Nigeria is the largest producer, with production mainly being sourced from artisinal workers, producing a steady 40 – 70 000 lb/year. In Nigeria, Canadian junior Columbia River Resources have an active exploration program targeting several areas containing old pegmatite workings in central Nigeria, viz. the Angwan Mallan, Tattara, Nassarrawa, Garaku, Wamba and Nikke areas, each that have identified pegmatite swarms of several hundred meters in length. Columbia River have made an agreement with what appears as the only official producer in Nigeria, Bakuwa Mining Works Limited (BMWL). BMWL currently have several Exclusive Prospecting Licenses and a Mining License in the Nasarawa State. Here grades of up to 350 g/t have been consistently recorded from BMWL’s mining license that covers 106 km 2.

In Mozambique, the Alto Ligonha district of the Zambezia province is well known for its extensive pegmatite swarms. Here, Cabot Performance Materials and local company Madal Group are still evaluating the Morrua pegmatite that has estimated resources containing 7.5 Mt grading at an average of 700g/t Ta205. Other known deposits include the Muiane deposit with an estimated 7 Mt grading at 160g/t Ta205 and the Marropino deposit that contains 22 Mt grading at 192 g/t Ta205. Although the Morrua project appears the most prospective, Cabot and Madal have yet to exploit it.

In Uganda, Uganda Gold are continuing the feasibility study of their $500 000 tantalite properties located in south western Uganda. Here, Uganda Gold has acquired the Nyanga property (including a Mining License and surrounding Prospecting Licences) as well as additional two licenses; the Nyakasop and Rugomera located nearby. Mining operations occurred on all three properties during the 1930 – 1960’s producing a total of 130 000 t, prior to suspension of operations in 1960. Uganda Gold intend carrying out a 1 500m drilling program to evaluate these areas in more detail.

Although Equatorial Guinea has not been a significant tantalum producer, the Acocsang area has been identified as an area with potential. Here laterally extensive pegmatites are overlain by eluvial and alluvial deposits that have been identified as containing economic grade tantalum and niobium. In southern Namibia, the aptly named Tantalite Valley area is known for its tantalum deposits. Here rare metal pegmatites occur in area measuring 12km long and 5km wide. Past exploration has identified tantalum potential with grades of 300 – 600 g/t Ta205 over widths of 1 – 3m. Reserves totalling several 100 000t have apparently been identified within the belt. However, concentration tests carried out in the 1960’s on these fine grained ores yielded poor recoveries varying from 30 – 50% Ta205. With the advances in mineral beneficiation and dressing technology over the last 40 years, these problems could be identified and solved.

There is undoubtedly excellent potential to develop a commercial tantalum mine in Africa. In particular, Nigeria, Uganda and Mozambique have several identified and exploitable deposits but require foreign capital to evaluate and exploit them efficiently.
Topics: Business Opportunity Countries: Africa
Industries: Metals Mining (other)
Ref. Number: MBendi comment Contact E-mail Address: YES
Date Posted: 07.Nov.2000 12:56:00 [GMT+2:00] Expiry Date: 02.Nov.2010 Good Luck To All!Cavanhttp://www.mbendi.co.za/a_sndmsg/news_view.asp?I=12110
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