Business
Update on Investment in Fodere Titanium
Update on Investment in Fodere Titanium.
About this update from Jangada Mines Plc
[{"type":"text","content":"\n \n \n RNS Number : 9498T\n Jangada Mines PLC\n 24 July 2020\n \n \n \n \n Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector: Mining\n \n \n 24\n July 2020\n \n \n Jangada Mines plc\n \n \n \n \n \n Update on Investment in Fodere Titanium\n \n \n \n \n \n Jangada Mines plc ('Jangada' or 'the Company'), a natural resources company, is pleased to announce positive progress on a USD100,000 investment it made in Fodere Titanium Limited ('Fodere') in 2019, a UK registered clean technology company that is developing environmentally sustainable and highly innovative technology to extract high value metals from the titanium, vanadium, iron and steel industries. \n \n \n \n \n \n Fodere provides the mining and resource extraction industries with an environmentally friendly, zero-waste solution to recover economic minerals from what are otherwise waste products, such as environmentally unfriendly tailings, that other companies cannot treat because they are unable to remove the containments. The recovered minerals then become saleable products that provide financial benefits to all stakeholders. One of the Company's Non-Executive Directors, Nick von Schirnding, is Chairman of Fodere.\n \n \n \n \n \n Since Jangada made its initial investment in Fodere in late 2019, Fodere has made significant advances towards establishing its initial small-scale industrial plant in South Africa, which processes vanadium and titanium dioxide tailings; Fodere has secured feedstock for a minimum of 10 years and is currently negotiating offtake agreements. Additionally, Fodere has recently received conditional approval for a loan finance facility through an African focused development bank, the proceeds of which will be sufficient to build its initial plant and commence operations. \n \n \n \n \n \n Additionally, being a shareholder in Fodere has allowed Jangada to access data, information and \"forward thinking\" ideas that are leading the way in the optimal use of waste by-products in the titanium, vanadium, iron and steel industries. Not only is this important from the perspective of environmental responsibility, it is also important for Jangada to help inform design decisions on how to optimise the revenue generation potential from Jangada's projects. Jangada sees the benefits of bei...