Tantalex Lithium Resources (CSE:TTX) told investors that its majority-owned subsidiary United Cominiere SAS has started commissioning on its TiTan plant in the Democratic Republic of Congo (DRC).
The TiTan plant has a designed capacity of 130 tonnes per hour and it is now ready to process its first ore, with a commissioning phase expected to last for up to three weeks.
First ore is slated to be available for export in September, the company added.
“This is transformational for our company as we progress towards a revenue generating mining company and demonstrate our commitment to the DRC in bringing critical mineral discoveries and resources to industrial production stage,” chief executive Eric Allard said in a statement.
Tantalex additionally updated investors on a number of other matters as it moves towards the start of production.
The company has hired RCS Global Group/Better Mining to implement upstream assurance mechanism services for its operations at the TiTan plant. Such services allow those in the supply chain to know whether sourcing activities are free from conflicts, human and labour rights abuses, and unacceptable health and safety hazards, Tantalex noted.
The company has also engaged the Carter Center for its assistance to guide the implementation of an exemplary Community Development Plan for the TiTan project. The plan is described as the first of its kind in both Tanganyika and Haut-Lomami provinces.
Since 2007, the Carter Center’s Human Rights House has been partnering with Congolese local civil society organization and human rights activists to create lasting changes by promoting collaborative action and establishing networks of like-minded organizations, Tantalex highlighted.
On the finance front, the company noted that it has entered into a bridge loan agreement with a private investor, in which it will receive access to US$500,000 with carrying interest at 10% over a 60-day period, with proceeds used for general working capital whilst TiTan is being established and the company advances its preliminary economic assessment and feasibility study for the Manono tailings project.
Also, the company detailed amendments to its promissory note arrangement with AfriMet Resources, extending maturity by one year and, separately, its loan agreement with Trade Cloud similarly to extend maturity.