Kazera Global buoyed by African Tantalum operational update

April 9, 2018

Proactive Investors

“Significant progress continues at the Namibia Tantalite Investment mine, with the application for a larger tailings dam, bidding for the installation of a system to pull water from the Orange River Water Project underway and our fifth shipment of industry leading high purity tantalum being sent to the customer,” said Kazera’s CEO, Larry Johnson

 

Kazera Global PLC’s (LON:KZG) share price surged following an operational update from African Tantalum (Aftan), in which it has a stake.

Aftan said its fifth shipment of tantalum from the Namibia Tantalite Investment (NTI) mine has been sent to its customer, a global North American leading tantalum consumer, with the recent shipment reaching grades of more than 40% purity.

Discussions continue with a second potential customer who has confirmed that Aftan has passed its stringent processing and product audit.

The tendering process has commenced for the laying of pipework for the newly approved Orange River Water Project with the intention of using solar power to drive the system.

Aftan has begun the application process, through a third party environmental engineering firm, for the certification of the installation of a larger tailings dam.

“At the mine, we continue to focus on increasing efficiencies and recent upgrades have materially improved the plant, mine and working conditions for our employees,” revealed Kazera’s chief executive officer, Larry Johnson.

“The purchase of a new TLB [Tractor-Loader-Backhoe], with multifunctional capabilities, will continue with the reduction in variable costs and improve overall efficiencies,” Johnson added.

Shares in Kazera were up 14.9% at 2.9p in late morning trading.