Cabot becomes sole Tanco owner

Full ownership of Tantalum Mining Corp. of Canada (also known as Tanco) has been acquired by Cabot Corp. of Boston.

Cabot, which owned a 37.5% interest in the Manitoba tantalum and lithium producer, acquired the 37.5% interest of Hudson Bay Mining and Smelting (TSE) and the 25% interest of Manitoba Mineral Resources.

Tanco’s Bernic Lake tantalum mining operation in southeastern Manitoba, temporarily shut down, contains the largest tantalum reserve in North America, as well as a reserve of high-grade pollucite.

Tantalum’s major application is in high-performance capacitors used in the electronics industry. Other uses include: in corrosion-resistant components in the chemical process industry, specialty glasses and carbide cutting tools. Tanco calculates that its reserves of pollucite, from which cesium chemicals are recovered, are good for more than a century. Cesium has application in the biomedical field, in organic synthesis and as a catalyst in the production of petrochemicals and sulphuric acid.

Tanco says its high-purity spodumene (an ore of lithium) plant is operating near capacity; it calculates that reserves should support production for at least 50 years. Spodumene is a major constituent in “oven-to-table” pyroceramic cookware, and has application in frits and glazes, specialty glasses and continuous steel casting.

Cabot is a supplier of a diverse list of specialty chemicals and materials, and energy products.