Tantalex Resources Incorporates DRC Subsidiary

Tantalex REsources (CSE:TTX) has finalized the incorporation of a wholly owned subsidiary in the Democratic Republic of Congo (DRC). The new company will be called United Materials Congo.
As quoted in the press release:

UNITED MATERIALS will be a company focused on the production, study, development and exploitation of minerals and strategic metals, such as Tantalum, Tin and Cobalt.
In order to develop its activities in the DRC, UNITED MATERIALS already concluded several memorandums of understanding (the “Memorandums“) with state local mining companies and mining cooperatives, who own mining titles and rights over research licenses or government properties and who are entitled to operate mining extraction (production site) on these properties.
These Memorandums provide description on the operations to be completed after their execution, such as the instalment of point of sales for the collected minerals, the purchase and commercialisation of minerals, but also the contribution of UNITED MATERIALS technicians and resources in order to develop the existing production site.

Tantalex CEO, Dave Gagnon, said:

I am very pleased about the conclusion of such contracts in the DRC by our subsidiary UNITED MATERIALS, and I believe that the different mining properties have a good production and extraction potential and that, slowly but surely, TANTALEX is moving from exploration to production notwithstanding the challenging markets for Junior mining companies. TANTALEX group is at a turning point of its existence.

Click here for the full press release.