EDITOR: | October 28th, 2014 | 3 Comments

Rare Earth Salts Announces Joint Development Agreement With Mining Major

| October 28, 2014 | 3 Comments
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October 28, 2014 (Source: Marketwired) — Completion of Major Milestone in Advance of Pilot Plant

Rare Earth Salts (“RES” or the “Company”), a leading mineral and applications technology company, today announced the signing of a Joint Development Agreement (“JDA”) with one of the ten largest mining companies in the world (“Mining Co”). The JDA is structured in phases and its intent is to demonstrate the scalability of, and ultimately use, RES’ technology at commercial scale to extract, separate and refine rare earth elements from one of Mining Co’s highly attractive deposits.

“The signing of this joint development agreement is a major milestone for our organization and further validates our core business strategy. After working with more than thirty deposits around the globe we selected Mining Co for the both the attractiveness of their deposit and the credibility that comes with working with them on our first project,” said Allen Kruse, Chief Executive Officer of RES. “With the completion of this agreement we are now entirely focused on building a successful pilot plant. We are confident not only in the ability of our technology to scale but also its potential to provide a fundamental shift in the rare earth industry.”

The pilot plant design, construction and operation will be in Southeastern Nebraska, United States and is expected to commence in the first half of 2015 and be completed within eighteen months of breaking ground. Following the completion of the pilot plant, a definitive feasibility study will be conducted and will be followed by the anticipated design, construction, and operation of a commercial scale facility. Once the commercial facility is fully operational, RES will be responsible for selling the final separated and refined rare earth end products.

Initial test work with Mining Co’s deposit using RES’ environmentally friendly process has demonstrated industry leading recovery rates and projects, at scale, some of the lowest operating costs in the industry. RES’ goal is to service end use customers by providing consistent supply of the highest quality product at competitive prices.

About Rare Earth Salts

Rare Earth Salts is a leading mineral and applications technology company with a goal of rapidly advancing towards production. The Company has developed a patent pending industrial technology proven to efficiently and economically extract, separate, and refine all 16 Rare Earth Elements to high purity at bench scale. The process is environmentally friendly and projects significantly reduced cost versus standard processing. The Company is executing on its strategy to scale its proprietary process with the construction of its pilot plant planned for the first half of 2015. For more information visit: www.rareearthsalts.com.


Raj Shah

Editor:

Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>


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Comments

  • Allen Kruse

    Thanks again to Raj, Tracy and the rest of the InvestorIntel crew in covering our press releases.

    We appreciate it a great deal!

    ~ Allen Kruse, CEO (Rare Earth Salts)

    October 28, 2014 - 3:07 PM

  • Tracy Weslosky

    Your welcome Allen and congratulations on what is — a significant milestone for Rare Earth Salts, and is an eye opener for others in the sector. This said, the news release is very conservative and it leaves me with more questions than answers. It’s a headliner in the sector…and indeed, you leave our readers with 2 primary questions: 1) Where did Rare Earth Salts come from and who are they — and 2) who is Company X?

    I certainly want to know….

    October 28, 2014 - 3:13 PM

  • Thomas Houghton

    Who is the partner in this venture and what will their role be? Which mining major has any access to or interest in the RE industry?

    October 29, 2014 - 1:09 PM

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