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SIP Resources announced the recent discovery of tantalum in Indonesia.
SIP Resources announced the recent discovery of tantalum in Indonesia.
As quoted in the press release:
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.