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Tantalex to form JV with DRC-owned private company

Tantalex Resources Corp. said Sept. 22 that it has signed a definitive agreement with private company La Congolaise d'Exploitation Minière SA to form a joint venture company, United Cominière SAS, to explore and develop "high-tech minerals."

Under the deal, Tantalex will own a 70% stake in United Cominière, which will hold a "significant" land package in the Katanga region in the Democratic Republic of Congo.

The land package shows evidence of mineralization of some high-tech minerals, Tantalex CEO Dave Gagnon said. "Not only can this opportunity help us to diversify our assets, it brings us one step closer to our goal of being a major player in the sector of high-tech minerals, where only a few players currently exist."

La Congolaise d'Exploitation Minière is 90%-owned by the Democratic Republic of Congo.