R/€ = 16.39 Change: -0.01
R/$ = 14.50 Change: -0.01
Au 1313.16 $/oz Change: 0.80
Pt 844.00 $/oz Change: -21.74
 
 
R/€ = 16.39 Change: -0.01
R/$ = 14.50 Change: -0.01
Au 1313.16 $/oz Change: 0.80
Pt 844.00 $/oz Change: -21.74
 
 
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Chimata signs $9.5m finance, offtake facility for Zimbabwe tailings project

10th January 2019 BY: Simone Liedtke
Writer

Transamine Trading and the Kamativi Tailings Company (KTC) have signed a term sheet for a $9.5-million finance and offtake facility for concentrate produced from the Kamativi tailings lithium project, in Zimbabwe.

The proceeds will be used for the construction of the Phase 1 processing plant to be built for the project, as well as for working capital.

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As part of the agreement’s terms, KTC will produce a +6% lithium oxide spodumene concentrate to be sold to Transamine, which will have the right to 150 000 t of concentrate produced from the Phase 1 processing plant.

KTC chairperson John McTaggart said the company “looks forward to developing a long-lasting and beneficial relationship with Transamine over the years to come”.

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In the meantime, the project team is looking to finalise all documentation to continue the rapid advancement of the project and construction of the Phase 1 processing plant to bring the project into production as quickly as possible.

Canadian strategic metals company Chimata Gold’s local Zimbabwean partner holds a 60% equity stake in KTC, which is a joint venture with the remaining 40% of the equity being held by Kamativi Tin Mines. 

EDITED BY: Chanel de Bruyn Creamer Media Senior Deputy Editor Online
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