Tesla Supply Deal Leads to Talon Stocks Expe- riencing a Peak

Tesla Supply Deal Leads to Talon Stocks Experiencing a Peak

Following earlier news that Talon Metals (TSX: TLO) had inked a nickel supply agreement with Tesla, shares of Talon Metals (TSX: TLO) opened up roughly 41.7 percent (in mid-January), trading around a 52-week high.

Tesla has agreed to buy 75,000 tonnes of nickel in concentrate over the next six years as part of the deal. The Tamarack nickel project in Aitkin County, Minnesota, which Talon and Rio Tinto jointly hold, is expected to yield some metals. Talon owns a 51 percent stake in the Tamarack project, which consists of a significant land position (18 kilometers of strike length) with multiple high-grade intercepts outside of the present resource area. The goal is to build a responsible processing capability in the United States and expand this nickel resource.

The Tesla supply deal is contingent on Talon acquiring a further 9% stake in the Tamarack project (bringing its total stake to 60%) and putting the project closer to commercial production.

Over and above the first 75,000-tonne commitment, Tesla has a privileged right to negotiate for the purchase of extra nickel concentrate.

By Tuesday's market close, Talon's stock had lost some of its gains, but it was still up 16.6% at C$0.70 a share. The nickel miner's market capitalization is estimated to be around C$418 million.

UNDERGROUND MINING

Goa's chief minister, Pramod Sawant

Indian CM on New Policy to Export Iron Ore Dumps: Help Resume Mining

Goa's chief minister, Pramod sawant, stated that an estimated 10 to 20 million metric tons of low-grade iron ore lay outside the mining leases and could maintain mining activities in the state for the next four to five years.

According to chief minister Pramod Sawant, the Goa cabinet approved a policy allowing mining corporations to export low-grade iron ore mined during the mining boom but dumped on public and private land since it was deemed of little value.

The cabinet decision, according to Sawant, will clear the way for the restart of mining operations, which has been halted since the Supreme Court declared Goa's mining license renewals unconstitutional and terminated them in 2018.

Goa has various mining dumps strewn over the countryside, essentially waste earth and rock covering a mineral deposit that was passed over by miners who were only interested in the higher-grade ore found down beneath the opencast pits in the past. These dumps can be found in both public and private areas.

According to Sawant, an estimated 10 to 20 million metric tons of low-grade iron ore are sitting outside the mining leases, which may keep mining operations in Goa going for the next four to five years.

"The state government has formulated a plan for the regularization of mining dumps on public and private land, as well as other connected issues." "Those who were valid lessees and had paid the government the money (as a penalty for unlawfully dumping on government land) will be permitted to export," Sawant said.

The Goa government revised the Land Revenue Code in 2013 to make iron ore dumping outside of mines legal by paying the penalty. At the time, Rs. 200 crores had been collected.

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