By assuming operational control, providing the co-operative mining sites with working capital, health and safety oversight, and mechanised equipment, the opportunity exists to consolidate inefficient but producing and profitable coltan mines to create a tantalum mining and trading stalwart.
Presently, artisanal mining is inefficient and dangerous and conducted by locals using pick and shovels in dangerous mining “holes”. Relatively small capital expenditure on mechanisation, technology and safety equipment is needed to upgrade the sector to a safer and semi-mechanised state and thereby significantly increase production, which is low compared to proven potential.
We seek to co-operate with existing proven, profitable producers to improve production and health & safety.
By entering into joint venture agreements which pay effective royalties to the existing license holders, EME/Eastinco can deploy capital on existing producing and profitable mines to significantly increase productivity and improve safety. This allows for the community to secure the long-term future of the mine.