Northern Minerals Won’t Sell Minority Interest in Browns Range Project

Mining Weekly reported yesterday that Northern Minerals Ltd. (ASX:NTU) has decided not to sell its minority interest in the Western Australia-based Browns Range heavy rare earths project.

As quoted in the market news:

Northern Minerals this week withdrew from continued negotiation for the sale of a 16% interest in the Browns Range project to ACIIG, saying that recent metallurgical testwork and an increase in resource had progressed Northern Minerals well beyond the stage when the deal was initially contemplated.

‘While negotiations have ceased, the company still has the continued support of its major shareholder, who has a major participating interest in the recent A$5.4-million placement achieved earlier this year, in addition to fully underwriting last year’s rights issue,’ the company said.

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