Tantalex Resources Corporation Announces Successful Completion of the Baseline Assessment Towards Conflict-Free Validation of...
28 February 2014 - 12:10AM
Marketwired Canada
Tantalex Resources Corporation (CSE:TTX), (the "Company" or "Tantalex"), is
pleased to announce that it has successfully completed its mine site and supply
chain baseline assessment, as part of implementing the Better Sourcing Program
(BSP) for due diligence assurance of mineral supply chains. BSP will enable
Tantalex to demonstrate and validate that exported materials are free of
conflict and human rights violations and fully trace the material from mine site
to smelter.
Validation of the Tantalex supply chain by BSP, which relies on the
implementation of traceability, transparency, local monitoring and consultation
systems, will support conflict-free validation of receiving smelters by the
Conflict Free Smelter Program (CFSP).
Compliance with the requirements from the CFSP is the cornerstone of Tantalex's
strategy to provide U.S. publicly traded tantalum based products supply chain
participants and other international customers with a reliable source of
responsibly procured tantalum ore. The CFSP audit is part of a determination
process through which these companies can verify their own conflict-free status
as required by Dodd- Frank Act Section 1502. The first conflict minerals reports
to the Security and Exchange Commission (SEC) are due in May 2014.
In order to comply with the CFSP certification, a tantalum producer must
successfully undergo a rigorous third party audit of its operations including
mine of origin, traceability and chain of custody, as well as compliance with
OECD-based and EITI (Extractive Industries Transparency Initiative) transparency
requirements among others. The baseline assessment by BSP is the first step to
ensuring Tantalex meets these requirements, and covered all aspects of the
supply chain including the support of local population for the project, local
logistics partners and consultation at government level. The successful
evaluation of the supply chain was a condition precedent for the shipping of ore
to international customers and the foundation of Tantalex's commercial strategy.
"We took a very methodical approach by signing a long term off take agreement
and working with the customer and BSP to ensure a full compliance with EICC
guidelines upstream. This will enable us to export conflict free mineral in
early phases of production in the very short term" said Dave Gagnon, Tantalex's
CEO.
About Better Sourcing Program
The Better Sourcing Program is a supply chain due diligence assurance program
designed to implement a global, comprehensive and transparent approach to
responsible and conflict-free sourcing from small- scale and semi-mechanized
mining operations. The Better Sourcing Program is aligned with international
best practice on responsible supply chains including the OECD Guidance for
Responsible Supply Chains from Conflict Affected and High Risk Areas - the only
standard currently endorsed by the SEC.
About Tantalex
Tantalex is a mining exploration and development company engaged in the
acquisition, exploration and development of Tantalum and Niobium properties in
Africa. Tantalex has its main business office in Montreal, QC.
Neither CNSX nor its Regulation Services Provider (as that term is defined in
the policies of the CNSX) accepts responsibility for the adequacy or accuracy of
this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tantalex Resources Corporation
Dave Gagnon
Chief Executive Officer
+1 514-394-7476
dg@tantalex.ca
Tantalex Resources Corporation
Jean-Robert Pronovost
Chief Financial Officer
+1 514-394-7476
jrp@tantalex.ca
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