Jangada Mines plc, a natural resources company, is pleased to announce it has secured a strategic shareholding position in Fodere Titanium (“Fodere”), an innovative and market leading company focussed on producing titanium dioxide and vanadium from waste materials. Jangada’s investment into Fodere now stands at £465,000 or 10,000 shares, representing approximately 3.6% of Fodere’s current capitalisation.
UK registered Fodere (www.foderegroup.com) has developed a process to treat low-grade and complex titanium-bearing feedstock, where existing methods are not suitable, to produce ultra-pure high-grade synthetic rutile. The process is a sustainable technology capable of extracting a basket of compounds, primarily titanium dioxide (TiO2) and vanadium pentoxide (V2O5) and generating almost zero waste, providing economic and environmental benefits. One of the Company’s Non-Executive Directors, Nick von Schirnding, is Chairman of Fodere.
Fodere is currently taking substantial steps towards the commercialisation of its pilot project in South Africa and expects to commission a small industrial plant in Q4 2021; a larger plant will be developed thereafter.
Not only does Jangada’s investment in Fodere provide access to forward thinking experts, technology, and waste improvement processes, it is also consistent with the Company’s approach to developing vanadium, titanium, and iron resources in a substantiable and environmentally friendly way. Furthermore, on basic commercial grounds, Jangada expects the investment to be commercially beneficial.
Brian McMaster, Executive Chairman of Jangada, said: “There can be no doubt that the vanadium, titanium, iron space is a critical area for future development. The evolution of green technologies continually points to the importance of these materials going forward. Jangada is extremely lucky to be in this space and our involvement with Fodere at this juncture is another step in the right direction. As we develop our own assets and assist in the development of Fodere’s processes, Jangada continues to illustrate that it is developing into a strategic player in an extremely exciting space. We look forward to updating shareholders as the year progresses.”
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
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