Northern Minerals to Divest Kurundi Mine Project

Northern Minerals (ASX:NTU) reported it has granted Tungsten West NL the designated base metals mineral rights, excluding rare earth elements.

As quoted in the press release:

The transaction follows an agreement with Toro Energy earlier this month, through which Northern Minerals can earn up to 80% interest in all mineral rights other than uranium within Toro’s Browns Range Northern Territory tenements. Tungsten West NL has raised sufficient seed capital to commence an exploration program and to cover listing costs. The tungsten market exhibits similar characteristics to that of rare earths, where demand for the raw materials outstrips supply.

Click here to read the full Northern Minerals (ASX:NTU) press release.