Matamec Gets $1.041M from Japanese Partner, Releases Update on Kipawa Project

Matamec Explorations Inc (TSXV:MAT, OTCQX:MHREF), a junior mining company which explores tantalum and other rare earths, has announced that its Japanese partner company, Toyotsu Rare Earth Canada, has issued $1.041M CDN as part of its agreement to supply heavy rare earth to Toyota, through its Kipawa mine. The company has also issued an update on the project, saying the metallurgical development has progressed significantly.

As quoted in the press release:

Since March 2012, the technical team working on the metallurgical development of the Kipawa project has progressed significantly. Extensive lab scale testing to develop and validate a process up to bulk carbonate production, also in parallel pilot plant testing and subsequent engineering was accomplished.

Click here to read the full Matamec Explorations Inc (TSXV:MAT, OTCQX:MHREF) press release.