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Kennedy Ventures signs multiyear deal

StockMarketWire.com

Kennedy Ventures, through its stake in African Tantalum (Aftan), has an interest in the Tantalite Valley Mine in Namibia (TVM), confirm that Aftan signed a multiyear supply agreement with a global North American leading tantalum consumer.

During H1 CY17, Aftan with the consultation of Kennedy CEO Larry Johnson, implemented important upgrades, testing and adjustments to the plant, slowing down the production schedule to establish the optimal grade of concentrate from the plant.

This took place in conjunction and discussion with the customer with the objective of meeting their world class specifications.

Aftan booked sales to the customer of one tonne and will be shipping three tonnes imminently.

Aftan continues to work closely with the customer and will do so through CY17 in a continued ramp up of deliverable tantalum ore. The customer's demand for Aftan's product continues to exceed current production.

Accordingly, the company intends to make additional required amendments to the plant which will provide critical upgrades and will put Aftan into a much stronger position and enable it to meet the customer's demand.





Story provided by StockMarketWire.com