Mining company Noventa finds more tantalum in Mozambique

26 August 2010

Jersey, United Kingdom, 26 Aug – Mining company Noventa said Wednesday in Jersey it had found a significant additional tantalum deposit near its mine at Marropino in the Mozambican province of Zambézia.

The first samples taken from the new location were “encouraging” and the company said they would now be independently evaluated.

According to the statement published on the company’s website, Noventa which is listed on the Alternative Investment Market (AIM) of the London Stock Exchange, if the discovery is confirmed it would make it possible for the existing processing unit in Marropino to increase its production to 500,000 pounds of tantalum pentoxide per year.

The Marropino processing unit currently produces 300,000 pounds of tantalum pentoxide per year. (macauhub)