The Directors of Australia’s Gippsland Limited advised that the Egyptian Minister for Industry and Technology has issued a Ministerial Decree, No 11/2003, allocating Tantalum Egypt an area of 14 square kilometers in which to construct the Abu Dabbab processing plant.
The area is ideally located six kilometers from the Red Sea coast and 19 kilometers from the Abu Dabbab mine site situated further inland up Wadi Abu Dabbab. The allocated area lends
itself perfectly to the project in that it includes large areas suitable for the process plant construction plus a number of areas that are ideally suited for tailings storage.
The site allows ready access to the Red Sea for process water whilst enabling plant feed to be trucked by road train down the gentle slope from the Abu Dabbab mine site.
Executive Chairman Jack Telford commented: "The area allocated to Tantalum Egypt is ideal and the company's first preference. The exclusivity and size of the allocation reflects the high level of support the project is enjoying from the Egyptian Government."
Tantalum Egypt is the joint venture company incorporated in Egypt to undertake the development of the 40 Mt Abu Dabbab tantalite-feldspar project. Tantalum Egypt is owned 50 percent by the Egyptian Geological and Mining Authority, a state agency of the Egyptian government, and 50 percent by Tantalum International Pty Ltd, which is a 100 percent owned subsidiary of Gippsland.
The international engineering group Lycopodium is currently undertaking a bankable feasibility study for the project based upon an annual production of one Mtpa which will produce approximately 430,000 pounds of tantalum pentoxide (Ta2O5), 1,000 tonnes of tin metal and 800,000 tonnes of micronised ceramic grade feldspar. It is anticipated that the initial production rate of 1 Mtpa will be expanded to 1.5 - 2 Mtpa not long after start-up. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
