LONDON (Alliance News) - Kennedy Ventures PLC on Monday said the first delivery of production from African Tantalum (Pty) Ltd, in which it has a 75% stake, is on track for the beginning of the fourth quarter.
Kennedy Ventures, which is focused on tantalite production in Namibia through its stake in African Tantalum, said the e-commissioning of the power supply and front end of the mine has begun, and is scheduled to complete in the third quarter.
The modification and re-commissioning of the gravity separation plant is also scheduled for the third quarter, as is a plan to resume mining activities.
"It is a busy time for the company and we continue to make excellent progress as we work towards bringing the Tantalite Valley Mine back into production. With a clear timeline to production outlined, we are confident of delivering this project on time and to budget and look forward to updating shareholders as further progress is made," Chief Executive Peter Hibberd said in a statement.
Kennedy Ventures shares were up 3.1% at 5.67 pence on Monday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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