Arcadia Minerals (ASX:AM7) secures mining license for Swanson Tantalum project

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Arcadia Minerals (ASX:AM7) secures mining license for Swanson Tantalum project

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 Arcadia Minerals (ASX:AM7) secures mining license for Swanson Tantalum project
Image source: Arcadia Minerals Website

Highlights

  • Arcadia announced that a Mining License and an Environmental Clearance Certificate for Swanson have been granted to Arcadia’s subsidiary ORP.
  • Currently, Arcadia is in the process of concluding a Definitive Feasibility Study for the Swanson Tantalum Project.
  • The study is progressing well and is anticipated to be concluded by September 2022.

Arcadia Minerals Limited (ASX:AM7, FRA:8OH) has announced a series of significant updates related to its Swanson Tantalum Project in Namibia. In a significant development, a mining license and an Environmental Clearance Certificate (ECC) for Swanson have been granted to Arcadia’s 80%-owned subsidiary Orange River Pegmatite (Pty) Ltd (ORP). In less than a year of its listing on the ASX, Arcadia’s continuous pursuit at Swanson has progressed the tantalum and lithium project to the definitive feasibility stage.

The company targets a diverse suite of mineral projects focused on Tantalum, Lithium, Nickel, Copper and Gold in Namibia.

Read Here: Arcadia Minerals (ASX:AM7) reports 115% increase in mineral resource at Swanson

 Mining License and Environmental Clearance Secured

The application for a mining license was submitted on 22 May 2020. The mining license was granted by the Minister for the Department of Mines and Energy of Namibia on 3 June 2022. The license gives ORP the authority to proceed with necessary development work for mining and operations of base and rare metals, industrial Minerals and precious metals. The license is valid for 15 years until 18 May 2037.

Swanson Mining Licence Area Source: Arcadia Minerals 7 June 2022

The mining license can be further renewed by applying 12 months prior to the expiry date, in accordance with the Minerals (Prospecting and Mining Act) of 1992. The renewal is subject to the presence of mineral to which the mining license relates in quantity sufficient for economic activities.

Also, the renewal cannot be denied by the minister, if the holder has complied to the terms of the mining license, proposed mining operations and expended the capital required for the purposes of which the mining license was granted.

Must Read: Arcadia Minerals Limited (ASX:AM7) lists on Frankfurt exchange, now a dual-listed exploration player

An Environmental Clearance Certificate was also received by ORP to conduct the proposed development of the Swanson Tantalite mine and commence activities as per ORP’s environmental assessment report and environmental management plan.

Definitive Feasibility Study to be finalised by September

Currently, Arcadia is in the process of concluding a Definitive Feasibility Study for the Swanson Tantalum Project to produce a Tantalum concentrate containing a minimum metal content of 25%. The study is progressing well and is anticipated to be concluded by September 2022.

AM7 shares traded at AU$0.22 on 7 June 2022 with a market capitalisation of AU$18.81 million.

Must Read: Arcadia Minerals (ASX:AM7) jumps on positive lithium mineralogical test results at Bitterwasser Lithium Clay Project

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