Canada Rare Earth signs deals to buy permitted refinery, co-develop mine project in Laos 

Canada Rare Earth (TSX.V: LL) has signed a memorandum of understanding (MOU) with a private Laos-based company to purchase 70% of a recently fully permitted rare earth refinery built to process concentrates and produce commercially traded rare earth oxides, including both light and heavy rare earth elements. The refinery has a rare earth oxide production capacity of 3,000 tonnes per year, was constructed 12 years ago and has not operated since being built due to a historical Lao PDR policy change affecting rare earth processing.  The company said the policies are now reversed and the government is supporting the startup and operation of the refinery, encouraging in-country processing of locally produced rare earth concentrates to increase economic benefits from the numerous new ion adsorption clay rare earth mines located in Northern Laos.  Canada Rare Earth said the new sources of rare earth concentrates have greatly enhanced the operating situation for the Laos refinery by reducing the risk of consistent concentrate supply, and that the plant will be ready for commissioning after some modest refurbishments, expected to be complete in Q4 2025. The refinery has received an updated Environmental Impact Assessment and all required licenses and permits required for operation have been issued. Canada Rare Earth said it is in discussions with several interested parties for offtake and potential investment at the project level which are expected to result in credit facilities to support the operation of the refinery based on preferred terms for a secure annual supply of key rare earth oxides such as neodymium, praseodymium, dysprosium and terbium. “Selecting the right offtake partner and project funders and lenders are critical decisions and must ensure the alignment of both parties’ objectives for the relationship to be both a commercial and strategic success,” Canada Rare Earth CEO Peter Shearing said in a news release. “We are approaching this carefully and selectively to ensure the refinery delivers the most value to the rare earth market.” Rare earth mine development project Canada Rare Earth has also entered into an MOU which gives it the right to enter into a 70/30 joint venture with a private Laos-based company to co-develop an advanced- exploration stage, ion adsorption clay rare earth mining project in Laos.  Last year the company established rare earth supply operations in the Democratic Republic of Congo through its wholly owned subsidiary Simba Essential Minerals.  Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com