International Cobalt Corp to merge with Tantalex Resources

(Ecofin Agency) - International Cobalt Corp (ICC) announced this week that it plans to merge with Tantalex Resources, a company focused on exploring and developing lithium, cobalt and tantalum projects in Africa. The amalgamated company, Amalco, will be equally owned by both parties (50 / 50), and listed on the Canadian Securities Exchange, CSE.

However, in order to maintain this participation, Tantalex is required to deliver mineral resources of at least 15 million tonnes of 0,65% lithium oxide on its Congolese operations. As for ICC, it must contribute at least 8 $ million to the cash position of the new company.

Tantalex has been active in the DRC for four years and recently completed the acquisition of an exploration license to produce lithium minerals from the tailings dumps of the historic Manono-Kitotolo (MK) mine in Tanganyika province. ICC has assets in the United States and Canada.

This article appeared first on https://www.agenceecofin.com/metaux/1411-61784-rdc-international-cobalt-corp-veut-fusionner-avec-tantalex-resources