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Matamec Explorations (TSXV:MAT,OTCQX:MHREF) announced that it will create a joint venture with Ressources Quebec (RQ). Under the terms of the agreement, RQ will acquire a 28 percent interest in the Kipawa heavy rare earths deposit for a payment of roughly $3 million to the joint venture.
Matamec Explorations (TSXV:MAT,OTCQX:MHREF) announced that it will create a joint venture with Ressources Quebec (RQ). Under the terms of the agreement, RQ will acquire a 28 percent interest in the Kipawa heavy rare earths deposit for a payment of roughly $3 million to the joint venture.
As quoted in the press release:
The Joint Venture has been created in order to pursue the development of the Deposit. Through this transaction, the Corporation and RQ intend to achieve the following objectives:
- optimisation of metallurgical processes (including individual separation of rare earths) and building of a second pilot plant;
- updating of the Regulation 43-101 compliant feasibility study published in October 2013;
- continuation of environmental studies;
- continuation of the social acceptability process with aboriginal peoples;
- continuation of discussions with strategic industrial and financial partners.
Matamec president, André Gauthier, said:
The creation of the Joint Venture in partnership with Ressources Québec, a partner of the highest reputation in the mining sector, allows for the continued development of the Kipawa heavy rare earths deposit. At the same time, this transaction contributes towards positioning Québec, Témiscamingue and Matamec at the forefront of the quest for heavy rare earths production outside of China.
Click here to read the Matamec Explorations (TSXV:MAT,OTCQX:MHREF) press release
