Arcadia Minerals has found funding partners for its Swanson Tantalum Mine in Namibia, marking a key step toward project development and long-term growth across its diversified exploration portfolio.
The company has finalised a competitive offtake and funding process, attracting multiple interested parties who have reviewed technical data and visited the site.
Several have expressed interest in financing the development phase, citing Swanson’s low capital intensity—estimated at US$9.8 million—and its standing as an ethical source of tantalum. Expansion potential through nearby tenements at the TVC Project could further extend Swanson’s mine life and throughput capacity.
The latest progress comes after Arcadia’s earlier attempt to advance Swanson through a proposed offtake and financing agreement with China’s HeBei Xinjian Construction CC, which failed to materialise when the partner did not meet its payment obligations.
The breakdown delayed final investment decisions and forced Arcadia to reopen negotiations with other potential financiers. This setback, however, allowed the company to pursue a broader, more competitive funding process that attracted a range of credible international and regional investors.
The renewed interest underscores Swanson’s appeal as a low-capex, high-value project with strategic significance in the global supply of responsibly sourced tantalum.
While Swanson advances toward financing, Arcadia has strengthened its Namibian footprint with a binding farm–in agreement on the Karibib Copper-Gold Project. The deal, executed after the September quarter, brings Kaoko Metals Pty Ltd on board as a joint venture partner to accelerate exploration and development.
Kaoko can earn up to 100 per cent interest through a four-stage farm-in process, involving staged cash payments of A$400,000, a non-refundable A$35,000 deposit, and up to 2.25 million Kaoko shares issued as milestone payments.
Arcadia also retains a Net Smelter Royalty, preserving long-term exposure to project upside.
Kaoko Metals, led by Australian mining executive Gerard O’Donovan, adds corporate and exploration expertise to Arcadia’s growing portfolio.
O’Donovan is known for successfully listing Sun Silver (ASX: SS1) and rapidly advancing its Nevada-based Maverick Springs project earlier this year.
The partnership aligns with Arcadia’s model of securing capable partners to advance assets without placing pressure on its balance sheet.
Located in Namibia’s mineral-rich Damara Belt, Karibib lies near some of the country’s most significant gold deposits, including Navachab, Twin Hills, and Kokoseb.
Arcadia believes the project holds considerable untapped value that modern exploration techniques could unlock, particularly as copper and gold prices remain buoyant.
Elsewhere, Arcadia continued to consolidate its TVC Ta-Li and Ni-PGE Projects, renewing all tenements (EPL5047 and EPL7295) until mid-2027.
At the Bitterwasser Lithium Project, all licences remain in good standing following Environmental Clearance Certificate approval for the lithium brine prospects.
Although lithium exploration was limited during the quarter due to weaker market sentiment, Arcadia continues to engage with potential strategic equity partners to position Bitterwasser for future recovery in lithium demand.
Across its portfolio, the company reported disciplined financial management, spending A$38,847 on exploration and development during the September quarter and incurring no production costs.
Arcadia said its approach remains focused on forming non-dilutive partnerships and joint ventures to maximise project value while limiting shareholder dilution.
With the Swanson Mine attracting credible financiers and the Karibib joint venture now secured, Arcadia Minerals is positioning itself as a dynamic Namibian explorer capable of turning resource potential into sustainable value across multiple commodities vital to the energy transition.
