Orient Tantalum plans private placement to fund tantalum-niobium projects

Ningxia Orient Tantalum Industry Co., Ltd. has announced plans to raise up to RMB1.2 billion (USD167 million) through a private placement. After deducting issuance costs, the funds will be used to build a digital wet-metallurgy plant for tantalum and niobium, upgrade its pyrometallurgy smelting production line, develop high-end tantalum-niobium product lines, as well as boost working capital.

The placement will target no more than 35 qualified investors, including the company's actual controller, China Nonferrous Metal Mining Group Co., Ltd., and its controlling shareholder, CNMC Ningxia Orient Group Co., Ltd. China Nonferrous Metal Mining Group will subscribe RMB105.27 million (USD14.67 million), and CNMC Ningxia Orient Group will invest RMB480 million (66.89 million) .