Siam’s Tak mine in operation

The Tak feldspar mine in northeastern Thailand began operations in December, Siam Trading (ASE) reports.

Siam, which has a 45% interest in the project, says the deposit contains reserves of about 11 million tons ore; a drilling program to increase reserves is under way.

An initial pilot operation of 5,000 tons per month is being run, and within a few months production will be increased to 10,000 tons per month and then to 20,000 tons per month, the company says. With potential export contracts, production can be increased to 30,000 tons per month utilizing on-site equipment, it says.

All of the initial production will be sold, under contract, on the Thai domestic market. Ore sold on the Thai market should net about $10-15 per ton, the company says, with ore sold for export netting substantially more. Siam reports it is nearing completion of a private placement of eight million shares at $1.80 per share. The funds raised will be used, in part, to purchase additional equity in the SAM-D Prawn Farm in Thailand, the company says.