The Conversation (0)
Tanzania-focused Peak Resources (ASX:PEK) said this week that it has executed a Memorandum of Understanding (MoU) with a Chinese rare earth producer to develop its Ngualla Rare Earth Project.
Tanzania-focused Peak Resources (ASX:PEK) said this week that it has executed a Memorandum of Understanding (MoU) with a Chinese rare earth producer to develop its Ngualla Rare Earth Project.
Peak said its Chinese partner is an established REE producer based in Northeast Jiangsu Province.
Terms of the MoU, as quoted in the press release, are:
Chinese partner to review and provide technical expertise in the further optimisation of the demonstrated mineral process developed for Ngualla’s rare earth mineralisation including beneficiation, acid leach recovery and separation
Chinese partner may introduce further parties for the purpose of investment, project construction, processing, engineering studies and marketing
Examine opportunities for the establishment of a jointly owned separation plant
A direct investment by the Chinese partner to assist with the development of the Ngualla Rare Earth Project
Negotiate an offtake agreement for Ngualla rare earth mineral concentrate, mixed carbonate or other intermediate products