RNS Number : 8883K
Kazera Global PLC
07 September 2021
 

Kazera Global plc

Exclusive Tantalum Off-Take Agreement

Kazera Global plc, the AIM quoted investment company, is pleased to report that, following the conclusion of its plan to commence Tantalum production at its mine in Tantalite Valley, as announced on 1 September 2021, it has now entered into an Off-Take Agreement for the sale of all Tantalum produced by it.

 

·      3-year contract, through to 31 December 2024, entered with Jiujiang Jinxin Nonferrous Metals Co Ltd at Tantalite Valley

·      A test sample assay has already been approved by the customer and airfreighted to China for factory testing

·      Interest expressed in developing the Company's Lithium deposit

 

Utilizing Kazera Global's CEO, Larry Johnson's former long career in Tantalum supply chains, the Company entered into negotiations with several potential end users of Tantalum. After extensive due diligence, Jiujiang Jinxin Nonferrous Metals Co Ltd based in Jiangxi Province, China, was selected as the Company's preferred purchaser. Jinxin specializes in various product lines related to Tantalum, Niobium and their derived products, which include High-purity Tantalum Pentoxide, High-purity Niobium Pentoxide, Common Grade Tantalum Pentoxide, Common Grade Niobium Pentoxide and K2TaF7 (Ksalt). Jinxin ′s products are sold throughout China as well as to America, Japan, Korea and European countries. Jinxin have entered into a three-year initial contract to purchase all Tantalum concentrate produced by Kazera at a fixed price that is competitive in terms of those paid globally by end-users of Tantalum.

A test sample has already been successfully assayed in Namibia and has now been airfreighted to Jinxin for factory testing. Payment for this sample is expected by the Company during September 2021.

Jinxin has also expressed an interest in becoming involved in the Company's development of its Lithium deposit.

Larry Johnson, Kazera Joint Chief Executive Officer, commented: 

"We chose to enter into an agreement with Jinxin because they clearly understand the complexities of plant operational restarts and can utilise the high grade of Tantalite. I have also had extensive positive experience of working with them in the past. Sourcing product from Namibia has major advantages for buyers as the country is far removed from conflict and has excellent infrastructure. We were approached by dealers in Tantalum who would have accepted much lower standards, but who we felt have less growth, flexibility and commitment than displayed by Jinxin."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No. 596/2014 ('MAR').

For further information on the Company, visit: www.kazeraglobal.com

 

Kazera Global plc (c/o Camarco)

Larry Johnson/Dennis Edmonds (Joint CEO's)

Tel: +44 (0)203 757 4980

 

finnCap (Nominated Adviser and Joint Broker)

Christopher Raggett / Charlie Beeson (corporate finance)

 

Tel: +44 (0)207 220 0500

 

Camarco (PR)

Gordon Poole / James Crothers / Hugo Liddy

 

 

  Tel: +44 (0)20 3781 8331

 

**ENDS**

 

 

 

 

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