Traxys Acquires Stake in Global Advanced Metals

May 6 -- Traxys Tantalum LP, a member of the Traxys Group, has agreed to acquire a 20% interest in Global Advanced Metals (GAM). The acquisition is subject to Australian Foreign Investment Review Board approval. The Luxembourg-based privately owned Traxys Group is a global leader in trading and financing metals and minerals. GAM, formerly Talison, is an ITRI member which up to 2007 produced tin as a by-product of its Greenbushes operation in Western Australia. As part of the agreement the two companies will establish a new trading company, GAMTRAX, as a wholly owned subsidiary to trade tantalum products.

GAM CEO Mr Bryan Ellis welcomed Traxys’s investment and stated that GAM and GAMTRAX are committed to the responsible supply of tantalum to the market and will only trade in “non-conflict” products ensuring its customers receive quality, reliable and ethical products.

GAM’s tin production ranged between 400 and 1,000 tonnes per year of metal from its own smelter up to 2007 and the company hopes to resume production in the near future. In March it announced plans to double lithium production at the recently re-opened Greenbushes operation.