Can you discuss Tantalex Lithium Resources’ (Tantalex) recent highlights and outline the main takeaways from the PEA at the Manono tailings project? 

HN: In January, we brought out our MRE, followed by a positive PEA in October, and recently we closed on a strategic financing with Glencore for US$5 million and a third of the Capex required for Manono. We plan to keep this pace up in 2024, release our FS in Q2 2024, and have the project fully funded before the end of the year. 

EA: The main takeaway from the PEA is that the project will have an initial production of 112,000 t/y of spodumene concentrate (SC6), and we are confident we can increase the current six-year mine life with additional resource definition works in 2024. 

What synergies will the deal with Glencore unlock for Tantalex? 

EA: This deal with Glencore is a big de-risk to the project. We do not have the mining risk – as it is a tailings project – and now we reduced our sales and marketing risk through that partnership with Glencore. 

How did operations unfold at the TiTan plant and the Pegmatite Corridor project?

EA: In 2023, we put a lot of effort into building our TiTan tin and tantalum alluvial plant located about 40 km south of Manono. TiTan is the most modern alluvial tin and tantalum concentrate plant in the DRC and our provincial and community stakeholders have taken a big role in bringing this project to realization. 

What is the potential for Manono to become a major lithium hub in Central Africa? 

EA: Manono is booming. I was back there in 2016, at the beginning of the first lithium boom, when we started our first JV with Cominières and started a small drilling campaign in 2018 before the lithium cycle went down. It is unbelievable how much lithium there is in Manono. Bringing mines into production is a long process and seeing as our project is a tailings reclamation project, we will likely be the first lithium mine in Manono. There will be many more mines coming into production in the next few years bringing a lot better infrastructure and living conditions in the area. 

HN: Looking at players coming into Manono now – AVZ, Zijin, ERG – it will become Kolwezi 2.0. These are not small names, and it is because the material is there. The maximum resource size today in Australia is 270 million t. In comparison, in one area in Manono across 2.5 km, you have a 400-million-t resource at 1.65%, most likely the largest undeveloped resource in the world. Lithium-wise, the DRC has the potential to be far bigger than Australia. 

How does Tantalex factor community development and renewable energies into its operations?  

EA: We need to be integrated with the surrounding community and do our best to alleviate the various hardships in the area. The key is to create economic prosperity by generating value from their resources. We promote local subcontracting as it is essentially the only way to do sustainable development. 

Energy-wise,  the TiTan plant, energy consumption is very low, and going forward we will integrate a 1 MW hybrid diesel-solar plant to reduce diesel consumption. For the Manono Lithium Tailings Project, we have received excellent news that the Mpiana Mwanga hydroelectric dam that used to power the old historic mine is currently being rehabilitated and will provide up to 60 MW to the Manono area. 

What are going to be the key priorities for Tantalex to become the DRC’s first lithium producer? 

HN: We are 6 km away from the world’s largest lithium resource. We have the biggest land package in that region today. Our exploration potential is considerable, so once we start drilling, I believe it will take the market by surprise and we will be valued what we are worth. 

EA: In November 2024, we will have completed an FS with a Final Investment Decision, and we will be ordering equipment for the plant. We will have increased the resources at the lithium tailings project, we will have steady production and revenue from the Titan plant which will be financing all the exploration work on the Corridor. We will have completed 20,000 m of drilling and confirmed a large hard rock lithium discovery.