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London, United Kingdom:
The multibillion company, Elenilto, one of the leading African mining developers, has submitted through its Ethiopian subsidiary Iris Mining Plc, jointly with its strategic tantalum partner, H.C. Starck, an Expression of Interest to the Privatization & Public Enterprises Supervising Agency to develop the Kenticha mine project operated by the EMDSC. The Kenticha mine is considered to be one of the largest tantalum producing assets in the world.
As per Elenilto & H.C. Starck proposal, the project shall include the increasing of the tantalum reserves, shall create 2,000 jobs and 10,000 indirect jobs, and production of high end products following radioactive elements removal and hydrometallurgical process to produce Tantalum & Niobium pentoxide powder 99% purity. The Government of Ethiopia is expected to enjoy over 4 billion US$ from taxes, dividends, royalties etc.
Elenilto is operating in Ethiopia for the last 3 years with its local management lead by Mr. Yanai Man and Mr. Giancarlo Vilone, and has acquired Tantalum licenses in the areas adjacent to the world class Kenticha’s tantalum mine. Elenilto has executed wide geological works and has identified potential of over 17,000 tons of Tantalum. Elenilto intends to begin production in its licenses Tantalum & Niobium pentoxide powders 99% purity, and in the second phase Capacitor grade tantalum powder. Elenilto has created wide cooperation with the local communities in the areas in both technical and social aspects. It has joined the artisanal miners and the leading cooperative and contributed to the local communities in the social aspects.
H.C. Starck is one of the leading largest worldwide producer, buyer and supplier of Tantalum products and other refractory metals and technical ceramics, and serves growing industries such as the electronics, chemicals and others, as well as mechanical engineering and tool manufacturers and proven advanced technology to manufacturing facilities including beneficiation, leaching and Hydrometallurgical processes and more. H.C. Starck has 12 manufacturing facilities located in Europe, America, and Asia, with 2,816 employees worldwide.
Elenilto is acting in 8 countries in Africa developing large scale mining projectsthat includes iron ore, phosphate, copper, tantalum, coal, oil & gas and other minerals in the scope of billions of US dollars.