Mining minerals

Arcadia Minerals (ASX:AM7) Orange River Pegmatite gets green light to develop Swanson – The Market Herald

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  • Orange River Pegmatite, an 80% subsidiary of Arcadia Minerals (AM7), has received the necessary approvals to advance activities at its Swanson project in Namibia
  • Company Obtained Mining License and Environmental Clearance Certificate for Tantalite Mine Development Project
  • The approval will allow it to begin the activities required to mine base and rare metals, industrial metals and precious metals for a period of 15 years.
  • Shares of the company last traded at 22 cents apiece at 1:43 p.m. AEST

Orange River Pegmatite, an 80% subsidiary of Arcadia Minerals (AM7), has received the necessary approvals to advance activities at its Swanson project in Namibia.

After Orange River Pegmatite submitted an application in May 2020, the company obtained a mining license as well as an environmental clearance certificate from the Namibian Ministry of Mines and Energy.

The approvals will allow it to begin the activities necessary for the extraction of base and rare metals, industrial metals and precious metals for a period of 15 years.

The mining permit can be renewed 12 months before it expires if the company can demonstrate that there are enough quantities left to exploit.

Meanwhile, Arcadia Minerals continued work on its Definitive Feasibility Study (DFS) for the Swanson Tantalum Project which aims to produce a tantalum concentrate containing a metal content of at least 25%.

The DFS is expected to be completed by September this year.

Shares of the company last traded at 22 cents each at 1:43 p.m. AEST.