Arcadia Minerals announced advancements at its Swanson Tantalum Mining Project in Namibia, including near completion of the ore supply road and the start of site preparation at the Swanson Plant.

Civil works are set to begin by the first quarter. Arcadia has invested approximately $3.2 million in processing equipment and expects final delivery by October.

This follows the company's construction funding agreement with HeBei Xinjian Construction, securing a 38% equity stake for HeBei in Arcadia's 80% owned subsidiary in exchange for a construction fund of at least US$7 million ($10.6 million).

The funding will support plant construction, infrastructure development, and the execution of mine development and commissioning for the multi gravity separation plant.