|For more information regarding the financing, please contact:|
|Destiny Mineral and Agricultural Consultants:|
|Vimbai Chakanetsa, CEO|
|Phone: +971 56 938 7752 / +971 50 582 9266 / www.dmaconsultant.com|
|To contact AB Minerals Corp:|
|Frank Balestra, CEO or Curt Huber, Business Development|
|Email: email@example.com / www.abmineralscorp.com|
September 21, 2017 – AB Minerals Corp. (“ABM”) (www.abmineralscorp.com) is pleased to announce that it has engaged Destiny Mineral and Agricultural Consultants (“DMAC”) (www.dmaconsultant.com) of Dubai, UAE to lead a USD$40 million financing for the construction of the first coltan processing facility in Africa, to be located in Dar es Salaam, Tanzania.
The agreement contemplates a financing totalling US$40 million. This transaction will take the Company through construction to commercial production, including all contingencies and working capital requirements for full scale operations.
Vimbai Chakanetsa, CEO of DMAC stated: “This Eco-Friendly coltan processing plant will be Africa’s first, and heralds the dawn in the African economic transformation narrative where our dream for a socio-economically transformed Africa through our natural resources becomes a reality. This new technology will allow for value-addition and beneficiation of tantalite bearing ores on the African continent for the first time in its history. We at DMAC are looking forward to working with AB Minerals and assisting with their planned expansion for many years to come.”
Frank Balestra, CEO of AB Minerals Corp. commented: “We are excited to partner with DMAC and their CEO Vimbai Chakanetsa. They have extensive knowledge in the African mining industry and will be a strong financial partner for the project. DMAC will assist the Company in accelerating our vision of value-addition for tantalite bearing minerals throughout the African continent. This is a significant milestone for the Company.”
About Destiny Mineral and Agricultural Consultants - Destiny Mineral and Agricultural Consultants is a leading provider of agriculture and mining consultant services in Africa. They have been successful in providing independent expert advice and management to both industry and Government.
About AB Minerals Corp. - AB Minerals has developed a new Made for Africa Eco-Friendly processing technology to produce high purity Tantalum and Niobium, using Certified Conflict-Free ore. This is a low-cost plant solution that can be rapidly implemented in any country that has sufficient coltan/tantalite supplies available for processing.