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Joint Ventures/Cooperation/Collaboration
Grünwald (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 Tantalus project is emerging as one of the largest clay hosted rare earth
resources outside of China, with 130Mio. tons of rare earth oxide ("REO")
bearing clays already identified from a small portion of the project area on the
Ampasindava Peninsula in north-western Madagascar. Analysis of the Tantalus
material has shown that approximately 20% of the REO's are in the valuable
"heavy" category, and contain low levels of associated uranium and thorium.
Tantalus decided to increase work on the reserve and will start a major
environmental and social impact study in first half 2013.
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.
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.
MANAGEMENT BOARD
TRE AG
Further inquiry note:
Für weitere Informationen kontaktieren Sie bitte:
Juergen Schillinger, Chief Executive Officier
Tel: +49 (0) 89 693 960 66
Email: schillinger@tre-ag.comwww.tre-ag.com
David Rigoll, Director
Tel: +44 7500 068555
Email: rigoll@tre-ag.com
Paul Weigh
Blythe Weigh Communications
Tel: +44 (0) 20 71383204
oder +44 (0) 7989 129658
end of announcement euro adhoc
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company: Tantalus Rare Earths AG
Nördliche Münchner Str. 16
D-82031 Grünwald
phone: +49 (0)89 693 960 66
FAX: +49 (0)89 693 960 68
mail: contact@tre-ag.com
WWW: www.tre-ag.com
sector: Holding companies
ISIN: DE000A1MMFF4
indexes:
stockmarkets: Open Market: Frankfurt
language: English