Handshake world-class rare earth ore company in Australia

According to Australian media, ferret.com reported today, Australian listed companies Greenland Minerals and Energy company (Greenland Minerals and Energy) and the medium (000758 SZ) signed a memorandum of cooperation, plans to jointly promote kovalainen bay (Kvanefjeld) in mining project.

The news to stimulate, Australian company open jump empty time Greenland minerals and energy rose 24.14% to c $0.18 a share, is still maintain rose pattern, the c $0.175 per share, up 20.69%.

Greenland minerals and energy company said, before signing the memorandum of three years' time, the two sides held several meetings, and the technical due diligence. The cooperation memorandum reports are true, but the capability of the memo is unconstrained shares at the announcement standard has not been achieved, the specific cooperation or not there is a big uncertainty.

According to the report, the two sides will make use of the rare earth separation medium shares experience and ability to work together to Mr Bay project in the mining of rare earth concentrate, and establish a vertically integrated rare earth supply chain. According to the report, the two sides of the plan is in the feasibility study phase, expected later this year will enter the stage. At stake in equities, officials said, there are substantial progress will be announced in a timely manner.

In 2007, according to public information, Australia's mineral exploration and development company, acquired Kvanefjeld Greenland minerals and energy co., LTD, the company believes the flagship project of Greenland minerals - Kvanefjeld is more than one element deposits, by focusing on the exploration, the rapid growth of the amount of ore, the mine is expected to become one of the world's largest rare earth and uranium. Estimate the value of 20% of the mineral resources of minerals for uranium, 75% of the value of the mineral neodymium, lanthanum, cerium, praseodymium, terbium and dysprosium, yttrium and gadolinium, etc., there are about 5% of the mineral resources value of sodium fluoride. Greenland minerals and energy department believes that its Kvanefjeld project can produce 20% of the world's supply of rare earth resources.



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