Thyssenkrupp & Tantalus Sign MOU For Joint Evaluation on Madagascar Rare Earths Project
December 12, 2012 (Source: Tantalus Rare Earths AG) — Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement.
Grunwald (euro adhoc) – THYSSENKRUPP AND TANTALUS SIGN MOU FOR JOINT EVALUATION ON MADAGASCAR RARE EARTHS PROJECT
Gruenwald 12 November 2012 – ThyssenKrupp Metallurgical Products GmbH (“ThyssenKrupp”) and Tantalus Rare Earths AG (“TRE”), are pleased to announce the signing of a Memorandum of Understanding (“MOU”) providing for joint evaluation of the large near surface Tantalus rare earth project in Madagascar and the exclusive European supply of these rare earth products to ThyssenKrupp.
The MOU will be followed by an off-take agreement for the exclusive European supply of rare earth products / concentrate. While TRE accelerates exploration and development of the Tantalus deposit and commences the environmental and social impact studies required ahead of mine development, the two companies will jointly indentify potential financing parties for a rare earths trading platform and discuss technical matters.
The MOU with ThyssenKrupp supersedes the previous LOI signed with Rhodia.
Get our daily investorintel update
Tantalus CEO Mr Juergen Schillinger said: “We are pleased to have teamed up with one of the world’s leading commodity trading companies who is not only a strategic partner for the distribution of our products, but can also assist Tantalus to optimize, including but not limited to, the metallurgical processing of our rare earth concentrates.” Tantalus Rare Earth AG is listed on the open market of the Frankfurt Stock Exchange and owns 100% of the Tantalus Rare Earths Project.
InvestorIntel is a trusted source of reliable information at the forefront of emerging markets that brings investment opportunities to discerning investors.