AMG Acquires Remaining Interest in Colorminas Feldspar Partnership
AMG Mineracao has acquired the remaining interest in its unincorporated feldspar partnership with Colorminas.
AMG Advanced Metallurgical Group N.V. recently announced that AMG Mineracao has acquired the remaining 49.9% interest in its unincorporated feldspar partnership with Brazil-based Colorminas. The partnership between AMG Mineracao and Colorminas was established in 2003 with the objective of producing and commercializing feldspar from tailings generated from AMG Mineracao's tantalum operations.
“The acquisition is in line with AMG’s strategy to streamline its organizational structure and enables AMG Lithium to eventually expand production, subject to the completion of a feasibility study and management approval, from the previously announced initial annual production capacity of 90,000 tons of lithium concentrate up to 140,000 tons of lithium concentrate,” said Fabiano Costa, president of AMG Mineracao.
AMG Mineracao’s Mibra mine produces 300,000 lbs annually of high-purity tantalum oxides (Ta2O5) in concentrates, primarily for use in capacitors for the electronics industry, and produces 180,000 tons of feldspar for the local ceramics and glass industry.