The Australian company Tyranna Resources, which operates a lithium mining project in the Namibe province of Angola, announced on the 15th of June that it has concluded an agreement worth US$10 million to supply half the mine’s lithium to a Chinese group Sinomine International Exploration.
Sinomine International Exploration will also have the right to buy half of the pollucite from the same mine, a mineral that generally contains cesium, a metal used in electrical, electronic and chemical applications.
Tyranna stressed that the deal was also a condition for the completion of another transaction announced in early March, which expects Sinomine to invest 31 million Australian dollars in the exploration of the mine.
This investment will allow it to accelerate the exploration program in Angola, noted Tyranna chairman Joe Graziano in the statement, which also said that Sinomine will provide two drilling machines.
(Source: Ver Angola)