AfriTin Mining has executed an agreement to acquire the entire issued share capital of Tantalum Investment from Jan Jonathan Serfontein.
Tantalum Investment holds two exploration licenses which are exploration licenses EPL5445 (Brandberg West Tin-Tungsten Mine) and EPL5670 (license in the Goantagab belt) for the exploration of tin, tantalum and other associated minerals.
Anthony Viljoen, CEO of AfriTin Mining comments:
“This acquisition of Tantalum Investment is another positive step for AfriTin as we look to consolidate African tin assets and embark on a regional expansion drive in Namibia.”
“During a recent exploration program, on our new licences and in the surrounding area, we identified a number of anomalous geological targets. Some of these targets had been mined in the past and we therefore believe in the overall potential of the Damaraland area, in Namibia.”
“Today’s acquisitions are no more than 80 km away from our flagship Uis mine and are therefore located in what was once a prolific tin-producing region. While bringing the Uis mine back into production remains our primary focus, we will begin early stage exploration on these new licences, with the objective of reopening the whole region as a major tin province.