LONDON (Alliance News) - Kennedy Ventures PLC on Wednesday said it has completed a long-term offtake deal between its African Tantalum Pty Ltd subsidiary and a leading electronic components manufacturer.
The unnamed manufacturer has agreed to take the full production from the African Tantalum Tantalite Valley Mine in Namibia, with prices in line with current market levels, Kennedy said.
"This is a significant step forward in the realization of creating a Namibian based producer of tantalite and products. With operations at the mine due to re-start shortly, we are pleased to have reached a supply agreement with a true market leader in this field," said Peter Hibberd, Kennedy's chief executive.
Kennedy shares were up 29% to 8.25 pence on Wednesday, one of the best performers in the AIM All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
