- Arcadia Minerals’ (AM7) 80 per cent-owned subsidiary, Orange River Pegmatite has received necessary approvals to advance activities at its Swanson project in Namibia
- The company was granted a mining license and an environmental clearance certificate for its proposed development of the tantalite mine
- The approval will allow it to commence activities required to mine base and rare metals, industrial metals, and precious metals for a period of 15 years
- Shares in the company last traded at 22 cents each at 1:43 pm AEST
Arcadia Minerals’ (AM7) 80 per cent-owned subsidiary, Orange River Pegmatite has received necessary approvals to advance activities at its Swanson project in Namibia.
After Orange River Pegmatite submitted an application in May 2020, the company has been granted a mining license as well as an environmental clearance certificate from the Minister for the Department of Mines and Energy of Namibia.
The approvals will allow it to commence activities required to mine base and rare metals, industrial metals, and precious metals for a period of 15 years.
The mining license can be renewed 12 months before its expiry if the company can show there are sufficient quantities still to be mined.
Meanwhile, Arcadia Minerals has continued work on its definitive feasibility study (DFS) for the Swanson tantalum project which for the production of a tantalum concentrate containing a metal content of no less than 25 per cent.
The DFS is expected to be completed by September this year.
Shares in the company last traded at 22 cents each at 1:43 pm AEST.