Madagascar: Tantalus raises funds for its rare earths
Saturday, 11 July 2015 11:20
Tantalus Rare Earths AG, mining company listed on the Düsseldorf Stock Exchange, will raise €6 million, by issuing 750,000 new shares, to support its rare earths project in North-East Madagascar.
On 8th July, the company disclosed having appointed Doonberg Capital Ltd as financial advisor who will also assist them in financial packaging for this project where Tantalus has signed a ten-year off-take contract with the German company ThyssenKrupp.
Tantalus Rare Earths AG aims to finalise the financing latest by the end of August, in order to start production by mid-2016.
The project covers 300km2 in the Eastern half of the Ampasindava peninsula in the province of Antsiranana.
According to the offtake contract terms, ThyssenKrupp will purchase every year 30% of the production, being 3,000 metric tons when it reaches full production.
Live News
-
Cécilia Bituka: “Silikin Village is a Strategic Investment for Innovation in the DRC”
16:00
-
Nigeria's Wealth Shift: Abdul Samad Rabiu Overtakes Aliko Dangote as the Richest Man on NGX
15:33
-
Starlink's Kenyan Setback: 2,000 Users Lost in Q1 2025 Amid Rising Local Competition
15:13
-
With a record 109 431 tons of cocoa processing, Cameroon brings West Africa current grind to more than 1.24 million tons
13:55
-
Cameroon cuts EU, UK import tariffs on key goods to 60% under EPA
18:02
-
Cocoa processing in Cameroon tops 100,000 tons for first time
18:01
-
Financial Inclusion: Ecobank Togo, La Poste Launch Two New Products
14:32
-
INAM Expands Universal Health Insurance to Widows, Widowers, and Orphans in Togo
14:30
-
Togo Launches 4th FESMA to Celebrate African Gastronomy
10:49
-
With Welo, Zanele Abraham Matome Redrafts Africa’s Healthcare Playbook
07:54
• New system will link banks, fintechs, and mobile operators in a single platform• Real-time transfe...
MTN Uganda, MTN Mobile Money and the Uganda Hotel Owners Association signed an MoU on 1 August 202...
Liberia and Sierra Leone began free roaming this week Côte d’Ivoire–Liberia agreement expecte...
President Bola Tinubu signs NIIRA 2025, replacing the 2003 insurance law. The law raises capi...
• President Touadéra invites UBA to open a branch to support local SMEs and startups• UBA would beco...
Backed by the Texaf Group, Silikin Village has, in just five years, become a key player in Kinshasa’s entrepreneurial ecosystem, offering 9,500 m² of...
Abdul Samad Rabiu is now the richest investor on NGX, with ₦15.23 Trillion in BUA Foods and Cement, surpassing Dangote. Aliko Dangote’s NGX wealth is...
Starlink lost 2,000 Kenyan users in Q1 2025, dropping to 17,066, as local ISPs grew 8%. High costs and 47 Mbps speeds drove users to cheaper,...
Symbion pledges $700 million for 140 MW methane plant on Lake Kivu. Investment is, however, conditional on full implementation of 27 June 2025...
In the heart of the Malian city of Djenné, the world’s largest mud-brick building dominates the skyline: the Great Mosque. First built in the 13th...
• Tekken unveils "Miary Zo," a Malagasy female fighter who practices Moraingy, a traditional martial art.• She is the second African character in the...