SIP Resources Confirm Discovery of Premium Grade Tantalum
SIP Resources, the mining company based in Indonesia made an official announcement on Friday in relation to its' recent discovery of premium grade Tantalum deposits
- (1888PressRelease) August 07, 2012 - SIP Resources, the Indonesian based mining company has made an official announcement regarding its' recent discovery of deposits of premium grade Coltan.
SIP Resources, the mining company based in Indonesia made an official announcement on Friday in relation to its' recent discovery of premium grade Tantalum deposits within land that is currently licensed with the privately owned mining company. The discovery was first made in September 2008 during routine exploration activities as the company continues to expand their tin mining operations on the Banka Island, Indonesia. Independent assays have now confirmed that there are sufficient deposits of the rare metallic ore to provide an economically viable mining project, with a projected three year feedstock level in line with the projected market demand over the same three year period. The reports confirmed that under SIP Resources's current production capacity, approximately 500,000lbs of Tantalum can be extracted per annum, contributing approximately 9% of total global supply over the next three years.
Speaking on behalf of the company, CEO and Chairman Dr. Patrick Janssen was present to explain how the discovery would help to change the face of the independent mining company;
"The discovery will prove to be the biggest stroke of luck I have witnessed during my 30 year career in the mining industry. The Tantalum project has the financial potential to bolster our vision for the future as we aim to diversify our business model towards other avenues of mining activity".
Dr. Janssen continued by revealing SIP Resources' intention in relation to the Tantalum mining project;
"As a company we will always use a large proportion of our own equity and resources to launch project proceedings. We have already invested significant amounts of our own reserves into the preliminary stages of the plan, and will fund stage two with our long term investment clients. We will then open the project up to a final stage of investment as we work to bring new partners on board to fully realize the future economic potential of SIP Resources"
The company is expected to release a further statement in the near future, which will provide a full strategic planned project for Tantalum.
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