Tantalus Rare Earths AG, German company with assets on a rare earths project in North-East Madagascar, revealed on 4th September going through a difficult financial situation, in connection with the mobilisation of resources for this project.
It attributed this situation to the default of one investor who acquired an important number of shares, 750,000 new shares for 6 million Euros, and who did not follow through with its commitments at the term of the operation, as part of company’s capital increase at the beginning of the year.
The German company, which had already concluded off-taking agreements for the production which is scheduled to begin around end 2016, said that it had started discussions with partners for the financing of the project which could be finalised during September.
The funds currently available are sufficient, it clarified, to continue activities until beginning October in the project containing 560,000 tons of measured, indicated, and inferred oxide resources.
Tantalus Rare Earths holds 100% of the rare earths project located in a concession covering 300 km2 in eastern half of the Ampasindava peninsula in Antsiranana province.
Senegal launches 200 billion CFA bond in UEMOA Proceeds to fund 2026 budget, transformation agend...
Amazon begins talks with Kenya on low-Earth orbit satellite broadband Kenya’s digital market ...
Algeria’s NESDA and the Algerian‑Saudi Investment Company sign cooperation deal focused on researc...
DRC seeks ITC support for local battery value chains Musompo SEZ targets $2 billion private ...
BOAD says sovereign bond purchases are liquidity management Member states accelerate borrow...
Dangote orders over 1,000 CNG trucks from China’s BAIC FOTON Fleet expansion supports logistics modernization and lower fuel costs Initiative aligns...
Senegal Treasury urges insurers to increase investment in government securities Insurers provide under one-third of bank investment in state...
Angola launches UNESCO AI readiness assessment initiative Review to evaluate regulatory, technical and institutional capacity Program...
(ZINDI) - The GSMA and Zindi today announced the launch of the African Trust & Safety LLM Challenge, a landmark initiative designed to help define...
March is marked by festivals, conferences, workshops and other events celebrating women. In March 2026, a film program is dedicated to female directors...
Rwanda’s capital immediately impresses visitors with its striking cleanliness and orderly layout, qualities that frequently set it apart from other cities...