Tantalus Rare Earth Resources and Sheng and 9000 tons of rare earth supply agreement signed

Rare Earth Company from Germany TRE (Tantalus Rare Earths AG) informed that it has signed supply agreements with three Sheng and resources (600392.SH), Sheng and resources to buy 3000 tons per year of mixed rare earth oxides from which, after the expiration of optional extension of seven years.

A brokerage analyst great wisdom news agency, said the purchase agreement accounted for 50% of the average annual Sheng and annual demand for resources, conducive to the stability of rare earth raw materials. If the purchase price, will be beneficial to Sheng and resources to reduce procurement costs.

Procurement pricing, TRE company said mixed rare earth oxide pricing will present a variety of rare earth oxide prices, as well as independent market quotations decided according to the company.

Sheng and rare earth resources, procurement of raw materials will come from TRE rare earth mine in northern Madagascar, the mine is expected to be put into operation in the second half of 2016 out of the mine. Sheng and resource procurement volume will account for 30% of the annual production capacity of the mine.

TRE company said the mine produced mixed rare earth oxide and resources will be shipped Sheng factories in China for processing, and then sold to the latter's Chinese domestic and international clients.


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