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Tantalum Capacitors: Lead-Times Remain in Check For The First Time All Year

October 24, 2010 By Dennis Leave a Comment

Lead times for tantalum capacitors as a whole remained unchanged for the first time in September 2010 on a month-to-month basis; although at 34.6 weeks, supply of the high capacitance, small case size component remains elusive. During the month of September, lead times for ultra-small A case tantalum chip capacitors actually declined for the first time all year (from 24 to 23 weeks); however, this was offset by an increase in lead-times for conductive polymer type tantalum chips (lead times increased mostly in the EIA designated B case and the D case size configurations) which stretched out from 37 to 38 weeks.

Tantalum Capacitors: A Closer Look At Changing Lead Times: 2010

The molded chip D and B case size tantalum chip capacitors are leading the list of hard to get passive components in August 2010, with the large D case size chips typically consumed in the global computer and telecommunications infrastructure markets. The B case shortage is impacting both the standard manganese and the newer conductive polymer type tantalum chip capacitors. B case size chips are consumed in a variety of global markets, including consumer electronics (game consoles, LAN networks and digital cameras), and in the portable notebook and netbook computer markets.

The chart below illustrates the movement in the market as tantalum materials supply tightened, and demand increased from many end-markets simultaneously, including computer, telecom, networking and consumer AV markets. Smaller tantalum capacitors, such as the A case and low profile versions use less tantalum metal per part, and have shorter lead times. Lead times for tantalum capacitors are at the highest point in their 45 year history.

Tantalum Capacitor Lead Times By Configuration and Case Size Through August 2010

Tantalum Capacitor Lead Times By Configuration and Case Size Through August 2010


NOTE HOW A RAW MATERIAL SHORTAGE CAN AFFECT ALL CASE SIZES AT ONCE!
Graph 3.1: Extending lead times for tantalum capacitors are revealing. Since the problem is primarily raw material related, the entire product line is affected, with all product lines shifting upward except for the smallest parts, which consume the smallest amount of tantalum metal. The other interesting factor is that the B case size chip in both manganese and conductive polymer type are in very short supply.

Additional Resources: (1) Tantalum Capacitors: World Markets, Technologies & Opportunities: 2010-2015 ISBN # 1-893211-11-8 (© April 2010) (2) TANTALUM: Global Market Outlook: 2008-2013 ISBN # 0-929717-81-3 (2008)

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Disclosure Requirements for Mining and Energy Companies to Impact Passive Component Supply Chain- July 2010

August 30, 2010 By Dennis Leave a Comment

Disclosure requirements for mining and energy companies included in the newly enacted U.S. financial reform law should become a global standard for corporate transparency, the Obama administration said on Friday, but an Australian resources company focusing on Africa warned that it is likely to squeeze tantalum supplies and increase prices.

“The United States is committed to working with other countries to ensure the implementation of similar disclosure requirements in other financial markets and will make this a priority in the year ahead,” the White House press secretary said in a statement.

Administration officials noted that the reform law signed by President Barack Obama on Wednesday included what was described as “a landmark provision” requiring energy and mining companies registered with the U.S. Securities and Exchange Commission to disclose how much they pay to foreign countries and the U.S. government for oil, gas and minerals.

They called the provision “an essential tool” for promoting transparency in the oil and mineral sectors. “The legislation will immediately shed light on billons in payments between multinational corporations and governments, giving citizens the information they need to monitor companies and to hold governments accountable,” the press secretary’s statement said.

“It will shine a sustained light on the relationship between corporations and governments in the oil and mineral sectors, and make impossible the kind of back-room dealings that cost taxpayers in lost royalties,” the statement continued.

Activists campaigning for restrictions on “conflict minerals” and “dirty deals” for resource extraction with other governments claimed victory following the signing and called the law a “major success” and an “incredible victory.”

The legislation requires the Securities and Exchange Commission to within nine months write regulations implementing public disclosure of payments to the U.S. or foreign governments for commercial development of oil, natural gas and minerals.

Other provisions requiring that manufacturers using “conflict minerals” from the Democratic Republic of Congo and neighboring countries will also be required to report to the SEC on their supply chains and be subjected to independent audits were cited by Globe Metals & Mining Ltd., West Perth, Western Australia, in warning Monday that the new law is likely to raise tantalum oxide prices.

“The ‘conflict minerals’ provisions have major implications for the tantalum industry and are likely to further constrain the already tight supply of raw material throughout the entire supply chain,” the company said in a six-page market update, noting that the law would require American companies to submit annual reports to the SEC on use of tantalum, tin, tungsten and gold sourcing.

The restriction is aimed mainly at identifying metals sourced from conflict areas in the Democratic Republic of Congo and adjoining countries. The company said that it was likely that the safest and easiest course for major consumer electronics brands like Apple, Intel, Sony, Nokia and Research in Motion would be to not source tantalum from the Congo area.

Executives noted that in recent years the DRC has supplied about 15% of the world’s tantalum while approximately another 40% of the world’s raw material production has been closed by the world’s financial crisis in recent years. Wars in the eastern Congo over the past decade have been financed in part by the region’s easily-mined, rich artisanal deposits of coltan used for tantalum and niobium production, casserite producing tin, wolframite producing tungsten and gold.

Globe is currently developing a niobium, uranium, tantalum and zircon project outside the region with restrictions under the act. That project, in central Malawi, is scheduled to begin production in 2013 at a rate of 3,000 tonnes per year of niobium metal with output of tantalum as a by-product.

Executives noted that other emerging tantalum projects with primary or co-production of the metal outside of the Congo region include a Commerce Resources Corp. project in Blue River, British Columbia; a Crevier Minerals/MDN Inc. project in Anita, Quebec; and a Gippsland Ltd. project in Abu Dabbab, Egypt.
Resource Investor.

“This bill offers a ray of hope to people in the DRC and around the world who suffer violence and human rights abuse at the hands of armed groups,” said Jennifer Krill, executive director of Washington-based Earthworks, a member of the Publish What You Pay campaign that promotes extractive industry transparency.

“This is a law that is going to affect virtually the entire U.S. manufacturing sector,” said Rick Goss, vice president of environment at the Information Technology Industry Council.

Ron Gilerman, managing director at A&R Merchants, which trades tantalum and other exotic metals, said the prices out of Brazil were at $80 per pound (on July 19th). He said another 50% increase in prices across the board in 2011 is in the offing.

Editor’s Note: One common theme throughout is that rare earth materials and metals are becoming more volatile in terms of price and availability.

Additional Resources: (1) Tantalum Capacitors: World Markets, Technologies & Opportunities: 2010-2015 ISBN # 1-893211-11-8 (© April 2010) (2) TANTALUM: Global Market Outlook: 2008-2013 ISBN # 0-929717-81-3 (2008)

Filed Under: Raw Materials Tagged With: , , ,

Tantalum Legislation To Impact Capacitor Industry In 2011

July 31, 2010 By Dennis Leave a Comment

Disclosure requirements for mining and energy companies included in the newly enacted U.S. financial reform law should become a global standard for corporate transparency, the Obama administration said on Friday, but an Australian resources company focusing on Africa warned that it is likely to squeeze tantalum supplies and increase prices.

“The United States is committed to working with other countries to ensure the implementation of similar disclosure requirements in other financial markets and will make this a priority in the year ahead,” the White House press secretary said in a statement.

Administration officials noted that the reform law signed by President Barack Obama on Wednesday included what was described as “a landmark provision” requiring energy and mining companies registered with the U.S. Securities and Exchange Commission to disclose how much they pay to foreign countries and the U.S. government for oil, gas and minerals.

They called the provision “an essential tool” for promoting transparency in the oil and mineral sectors. “The legislation will immediately shed light on billons in payments between multinational corporations and governments, giving citizens the information they need to monitor companies and to hold governments accountable,” the press secretary’s statement said.

“It will shine a sustained light on the relationship between corporations and governments in the oil and mineral sectors, and make impossible the kind of back-room dealings that cost taxpayers in lost royalties,” the statement continued.

Activists campaigning for restrictions on “conflict minerals” and “dirty deals” for resource extraction with other governments claimed victory following the signing and called the law a “major success” and an “incredible victory.”

The legislation requires the Securities and Exchange Commission to within nine months write regulations implementing public disclosure of payments to the U.S. or foreign governments for commercial development of oil, natural gas and minerals.

Other provisions requiring that manufacturers using “conflict minerals” from the Democratic Republic of Congo and neighboring countries will also be required to report to the SEC on their supply chains and be subjected to independent audits were cited by Globe Metals & Mining Ltd., West Perth, Western Australia, in warning Monday that the new law is likely to raise tantalum oxide prices.

“The ‘conflict minerals’ provisions have major implications for the tantalum industry and are likely to further constrain the already tight supply of raw material throughout the entire supply chain,” the company said in a six-page market update, noting that the law would require American companies to submit annual reports to the SEC on use of tantalum, tin, tungsten and gold sourcing.

The restriction is aimed mainly at identifying metals sourced from conflict areas in the Democratic Republic of Congo and adjoining countries. The company said that it was likely that the safest and easiest course for major consumer electronics brands like Apple, Intel, Sony, Nokia and Research in Motion would be to not source tantalum from the Congo area.

Executives noted that in recent years the DRC has supplied about 15% of the world’s tantalum while approximately another 40% of the world’s raw material production has been closed by the world’s financial crisis in recent years. Wars in the eastern Congo over the past decade have been financed in part by the region’s easily-mined, rich artisanal deposits of coltan used for tantalum and niobium production, casserite producing tin, wolframite producing tungsten and gold.

Globe is currently developing a niobium, uranium, tantalum and zircon project outside the region with restrictions under the act. That project, in central Malawi, is scheduled to begin production in 2013 at a rate of 3,000 tonnes per year of niobium metal with output of tantalum as a by-product.

Executives noted that other emerging tantalum projects with primary or co-production of the metal outside of the Congo region include a Commerce Resources Corp. project in Blue River, British Columbia; a Crevier Minerals/MDN Inc. project in Anita, Quebec; and a Gippsland Ltd. project in Abu Dabbab, Egypt.

Tantalum’s primary use (50%) is as an anode material for the global tantalum capacitor industry. Tantalum capacitors are used in computers, automotive electronics, digital cameras, wireless handsets, dongles, wireless base stations, central office networks, data switches and many more applications.

Additional Resources: (1) Tantalum Capacitors: World Markets, Technologies & Opportunities: 2010-2015 ISBN # 1-893211-11-8 (© April 2010) (2) TANTALUM: Global Market Outlook: 2008-2013 ISBN # 0-929717-81-3 (2008)

Filed Under: Raw Materials Tagged With: , , ,

Metals Pages Raises Tantalum Spot Price

June 30, 2010 By Dennis Leave a Comment

In an attempt to keep shareholders and investors informed of the tantalum market, junior explorer Gippsland has advised that the UK based Metal-Pages group www.metal-pages.com has announced that the tantalum spot price in June 2010 (as tantalite – Ta2O3), has increased by 8.77% from US$50 – 54 to US$54 – 60 per pound, an increase of some 70% since December 2009. Gippsland Directors are of the opinion that the Company’s 142.5 million tonne Abu Dabbab- Nuweibi projects, containing approximately 56 million pounds of contained tantalum (as Ta2O3), is unique in that Gippsland alone has the resource base to satisfy the long term demand for this sought after strategic
metal.

Editor’s Note: Paumanok Publications, Inc., believes that the price of tantalite may be higher at $70.00 per pound based upon primary interviews with ore vendors. November 2011 Update: Tantalite price now at an estimated $120.00 per pound, with shipments from Brazil approaching $150.00 per pound.

Additional Resources: (1) Tantalum Capacitors: World Markets, Technologies & Opportunities: 2010-2015 ISBN # 1-893211-11-8 (© April 2010) (2) TANTALUM: Global Market Outlook: 2008-2013 ISBN # 0-929717-81-3 (2008)

Filed Under: Raw Materials Tagged With: , ,

Talison Not To Re-Open Tantalite Mines In Australia Until Certain Criteria Are Met

June 30, 2010 By Dennis Leave a Comment

Talison will not re-open its massive tantalite mines in Australia until certain criteria are met regarding pricing and the establishment of long-term contractual agreements with customers. According to an article published in June by Reuters- Talison Tantalum was considering restarting its Wodgina mine (formerly the world’s top producer of
tantalite) in mid- 2 0 1 1 o n expectations of higher demand and rising prices, however, in an interview with Passive Component Industry Magazine LLC on June 23, 2010, Talison spokesperson Bryan Ellis noted that the actual reopening date of the Australian tantalite mines was dependent upon the establishment of long-term
contracts with materials processors at a price that guarantees longevity of the business. Mr. Ellis also noted that they were re-evaluating potential extraction from the Greenbushes site in addition to the Wodgina site; and that no final decisions had been made as to where they would source tantalite and when they would begin extraction
operations. Mr. Ellis further noted that the company was still in the information gathering stage and noted that their current relationship with a third party miner conducting iron ore extraction at the Wodgina location was generating enough cash for the company to keep the business operational without having to extract tantalite from either Wodgina or Greenbushes.

View of One of Talison's Two Open Pit Tantalite Mines in Australia- The Largest Tantalite Assets in the World

Additional Resources: (1) Tantalum Capacitors: World Markets, Technologies & Opportunities: 2010-2015 ISBN # 1-893211-11-8 (© April 2010) (2) TANTALUM: Global Market Outlook: 2008-2013 ISBN # 0-929717-81-3 (2008)

Filed Under: Raw Materials Tagged With: , ,

H.C. Starck Develops Worldwide Standard for Sustainable and Reliable Raw Material Sourcing

May 30, 2010 By Dennis Leave a Comment

H.C. Starck GmbH, Goslar, one of the world’s leading producers of refractory metals and suppliers of
high-tech companies, has aligned its sourcing policy to broad sustainability criteria. The newly developed sourcing process called `Responsible Supply Chain Management`, in short RSCM, is unparalleled in the world
and may also become an international standard. H . C . S t a r c k initiated the development and implementation of RSCM independently in order to emphatically refute claims of the use of “illegal” materials and to show that it is possible to practice a s o c i a l l y a n d e c o l o g i c a l l y acceptable raw material policy
throughout the industry. The Electronic Industry Citizenship Council (EICC) is also demanding a sustainable and reliable sourcing of raw materials for the electronic industry.

As the first company in its sector, H.C. Starck has introduced a sourcing process based on RSCM. In addition to the internationally recognized standards such as ISO 9001, ISO 14001 und SA 8000, it takes into account traceability transparency and the far-reaching ethical, social and environmentally friendly principles of raw material sourcing. The international launch of RSCM at H.C. Starck was tested and corroborated in an extensive
review carried out by an independent expert, BUREAU VERITAS Certification. “H.C. Starck sets new international standards with the raw material management system that we have initiated of our own accord,” says
Chairman of the Executive Board Dr. Andreas Meier. “Our RSCM activities are unique in our sector and have received international acclaim, as evidenced by the fact that H.C. Starck was recently nominated by the World Trade Group for the Sourcing Excellence Award in recognition of its sustainable RSCM commitment.” The core elements of RSCM are supplier audits, through which the proof of origin of the raw materials and thus the re levant documentation of replicability are verified. The standards defined in the RSCM system are also
assessed, especially in connection with the sourcing of raw materials from mines. Here H.C. Starck can draw on its extensive pool of data and years of experience in the evaluation of raw material sources to check the plausibility of the assessment. Only those sources that are able to pass such an audit will be able to supply H.C. Starck. The company has already successfully conducted the first test audits with suppliers.

Additional Resources: (1) Tantalum Capacitors: World Markets, Technologies & Opportunities: 2010-2015 ISBN # 1-893211-11-8 (© April 2010) (2) TANTALUM: Global Market Outlook: 2008-2013 ISBN # 0-929717-81-3 (2008)

Filed Under: Raw Materials Tagged With: , ,

Industry Representatives Discuss Tantalum at the U.S. Department of State

May 30, 2010 By Dennis Leave a Comment

Representatives from the consumer electronics, automotive, jewelry and manufacturing industries met May 14th 2010 at the Department of State with Under Secretary of State for Economic, Energy and Agricultural Affairs Robert Hormats, Under Secretary of State for Democracy and Global Affairs Maria Otero and Assistant Secretary of State for African Affairs Johnnie Carson. The group discussed steps that can be taken to ensure that their supply chains do not contain conflict minerals that have fueled the ongoing conflict in the eastern Democratic Republic
of the Congo (DRC). “This is an important conversation. We are working towards the common goal of ending the use of conflict minerals from the DRC,” Under Secretary Hormats said. Minerals like tungsten, tin, tantalum and gold are used in a range of industries, including electronics, jewelry and automotive. Armed groups and military units in eastern DRC have used debt, coercion and physical violence to force villagers to extract these minerals
from local mines. Proceeds from the illicit sale and trade of these metals are used to perpetuate the cycle of conflict, human trafficking physical and sexual violence and human rights abuses. “We wanted to hear about the work that end-user industries are doing on due diligence. While there is much to do, we were pleased to hear about the efforts of the electronics industry to address supply chains,” said Under Secretary Otero.

Assistant Secretary Carson said that “resolving the conflict in the Great Lakes area and bringing peace and stability to the DRC is a top State Department priority.” A representative of the Electronic Industry Citizenship
Coalition (EICC) and the Global e- Sustainability Initiative (GeSI) stated, “Together, the EICC and GeSI will continue to develop a systematic approach to keep our supply chains free of conflict minerals and support legitimate sourcing from the DRC. We were encouraged to learn about diplomatic efforts to address the conflict minerals issue.” Today’s meeting is part of a larger process initiated by the Department of State and other agencies to support multilateral due diligence guidelines that reduce illicit exploitation of natural resources and promote legitimate and responsible sourcing from the DRC, emphasize the importance of transparency by the private sector with respect to minerals, and work with all regional and international partners to deter trade in conflict minerals.

Additional Resources: (1) Tantalum Capacitors: World Markets, Technologies & Opportunities: 2010-2015 ISBN # 1-893211-11-8 (© April 2010) (2) TANTALUM: Global Market Outlook: 2008-2013 ISBN # 0-929717-81-3 (2008)

Filed Under: Raw Materials Tagged With: , ,

Noventa Resumes Tantalum in Mozambique- April 2010

April 30, 2010 By Dennis Leave a Comment

Noventa has announced that tantalum concentrate production has resumed at its Marropino mine in Mozambique following, and the company is now looking into a Toronto Stock Exchange listing. The production profile at Marropino will follow the previously announced three-stage process, consisting of re-processing the mine
tailings; processing of previously mined oversize material previously used by the plant to prove the process and adjust for maximum recovery, and processing of new material from the main ore body. All three phases are planned for completion this year. Noventa said that the first two stages of production would be at “modest levels” to ensure operational effectiveness before production from the Run-Of-Mine stage with higher grade levels of tantalum material commences in Q4. “It has been a challenging few months, but ultimately rewarding to achieve our first goal of restoring production at Marropino and I look forward to progressing the mine successfully,” said Delio Darsamo, engineering manager responsible for the Marropino mine and a director of Noventa’s subsidiary HAMC. The date of the planned restart of the mine was announced late last month. With production at Marropino now recommenced, the company continues to develop its 3 year plan and is working towards its TSX dual listing. The plan, which it hopes to present to shareholders in the next three months – is considering various options, including but not limited to, the expansion of throughput capacity at the Marropino plant, mining of Mutala & Morrua and further exploration work.

Back in February, Noventa terminated the agreement for the sale of morganite produced by the Marropino mine in Mozambique with Miranda Gems Hong Kong Ltd, while reaching another offtake agreement with another party. Marropino was placed on care and maintenance in May 2008. In October 2009, Noventa declared it was mulling all options regarding the asset, subsequently deciding to reopen Marropino due to the positive medium term outlook for tantalum demand.

The demand for the metal, which is used in the manufacturing of capacitors for mobile phones, motherboards and audio and video equipment, is projected to outstrip supply in 2010 and 2011, while the production of microelectronic goods is projected to increase, Noventa said.

The company’s new chief operating officer Patrick Lawless started this month, and he is due to succeed CEO John Allan by the end of June. Lawless has previously served as CEO of ESR Technology Ltd and CEO of Bureau Veritas UK & Ireland, an international testing and certification services business with many clients in the natural resources and process industry sectors. Lawless who speaks Portuguese, Mozambique’s national language, will be based at the company’s operational headquarters in Maputo, Mozambique.

Additional Resources: (1) Tantalum Capacitors: World Markets, Technologies & Opportunities: 2010-2015 ISBN # 1-893211-11-8 (© April 2010) (2) TANTALUM: Global Market Outlook: 2008-2013 ISBN # 0-929717-81-3 (2008)

Filed Under: Raw Materials Tagged With: , ,

New Tantalum Study Reaffirms Looming Metal Shortage

April 30, 2010 By Dennis Leave a Comment

A new study by Paumanok Publications, Inc. entitled “Tantalum Capacitors: World Markets, Technologies & Opportunities: 2010-2015” has reaffirmed that a shortage of the rare metal used in capacitor anodes, sputtering targets and supermetals is about to impact the global markets.

The Loss of Primary and Secondary Resources In The Tantalum Supply Chain: 2006-2009:

Between 2006 and 2009 the primary sources for tantalum ores and concentrates have undergone a remarkable change. Beginning with the closing of Talison’s (Australia) Greenbushes Mine in 2006, followed by the exhaustion of the United States Defense Logistic Agencies tantalum supply to the market in January 2007, and then followed by the closing of tantalum supply from Talison’s Wodgina Mine (Australia) in 2009; which was soon followed by the closing of the Cabot Tanco Mine (Canada) and the closing of the Noventa Marropino Mine (Mozambique). This succession of closings effectively removed about 2.2 million pounds of material from the supply chain between 2006 and 2009, with about 1.3 million pounds of hard rock resource removed from the supply chain in 2009 alone. Therefore, the study concludes that a deficit is forthcoming.

2010-2015 Forecasted Shifts in Supply For Tantalum Metal

Between 2008 and 2009 the loss of key primary sources of tantalum metal resulted in demand moving away from
Australia and NAFTA and consolidating in Central Africa. There are two sources to support this conclusion- the global import and export data and the United Nations report covering “ColTan” mining activity in the Congo. There was also an increase in tantalum coming from a by-product of tin slag mining (especially coming from VietNam and North Korea), but also a greater reliance on customer inventories, which we believe were sourced in 2008 (as customers used large volumes of captive materials to avoid high mining costs) and again in 2009 (albeit at a lower rate because inventories were lower and demand was lower). Mining activities in Brazil also appear to have remained stable in terms of volume, but materials were sold at a higher price per pound. It also appears that mining activity in China, Eastern Europe and SE Asia remained stable (but small).

Historical Growth in Worldwide Tantalum Demand: 1995-2008 CY

Between 1995 and 2008 global demand for tantalum ores and concentrates increased from 2.97 million pounds per year to 6.22 million pounds per year; which means the market has more than doubled over the 13 years between 1995 and 2008, and in fact has exhibited an average annual growth rate of about 5.7% per year.

CY 2008-CY2009 Changes in Demand For Tantalum:

For CY 2008, global consumption of tantalum ores and concentrates totaled approximately 6.22 million pounds, up by 7.2% from the 5.8 million pounds reported in 2008. For CY 2009, and in accordance with the global economic decline in that calendar year, demand for tantalum ores and concentrates declined to an estimated 4.3 million pounds- or a one-year decline of 31% in terms of consumption.

Market Forecasts for Tantalum: 2009-2015 CY

For the 2009 to 2015 time period, we now forecast that the market demand for tantalum ores and concentrates will grow at an accelerated rate of 9.2% per year over the next five years as the market rebounds from the significant downturn realized in CY 2009. We also predict increased competition for the metal between the electronics industry and the supermetals industry between 2010 and 2015. We forecast that global demand for tantalum ores and concentrates will increase to 7.33 million pounds by 2015, with a rather large one year leap in demand expected for CY 2013.

Forecasting The Tantalum Materials Market Deficit: 2010-2015

We estimate based upon the closing of the primary mining operations in Australia,Mozambique and Canada, that a deficit will build in the market in CY 2010 and CY2011 and then peak in CY 2012. This lack of ore supply will
drive up the price for tantalum ores and concentrates; which will in turn drive up the price of capacitor grade tantalum metal powder and wire; and tantalum materials sold into the sputtering target, cemented carbide and superalloys businesses in the second half of 2010.

Additional Resources: (1) Tantalum Capacitors: World Markets, Technologies & Opportunities: 2010-2015 ISBN # 1-893211-11-8 (© April 2010) (2) TANTALUM: Global Market Outlook: 2008-2013 ISBN # 0-929717-81-3 (2008)

Filed Under: Feature Story Tagged With: , , , ,

Ethiopia Sells $47 MM Worth of Gold and Tantalum In First Half of 2009

March 31, 2010 By Dennis Leave a Comment

Ethiopia made $47 million from gold and tantalum exports in the first half of its financial year, the ministry for mines and energy told Reuters on Wednesday. “Most of the money was made by Midroc Gold Co., which earned $40 million from exports,” spokesman for the ministry, Bacha Fuji, said. Midroc is owned by Ethiopian-born Saudi business tycoon Sheik Mohammed Hussein Al Amoudi. Tantalum exports by the state-owned Ethiopian Mines Development Share Association, earned more than $4 million, Bacha said. Tantalum is used in consumer electronic products. A sum of 58.7 million Birr was obtained from 96.6 tons of tantalum exported by the Ethiopian Mines Development Share Association. The rest of the money was made by the country’s national bank
from exporting gold found by artisan miners. The Horn of Africa country is offering exploration licenses to foreign firms interested in mining unexploited gold reserves. Mines and energy minister, Alemayehu Tegenu, told Reuters in November the country had signed agreements with Midroc and Britain’s Golden Prospecting Mining Co. to extract an estimated 43 tonnes of recoverable gold over the next 11 years. The Ethiopian government says it has identified possible reserves of up to 500 tonnes in different regions. The country made $105 million last year from gold exports, the ministry says. Ethiopia has made $450.5 million from about 48 tonnes of gold exports in the last 10 years, according to the National Bank of Ethiopia.

Additional Resources: (1) Tantalum Capacitors: World Markets, Technologies & Opportunities: 2010-2015 ISBN # 1-893211-11-8 (© April 2010) (2) TANTALUM: Global Market Outlook: 2008-2013 ISBN # 0-929717-81-3 (2008)

Filed Under: Raw Materials Tagged With: , ,
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