Rare Earth Salts, a leading mineral and applications technology company, and Minera BioLantanidos, the first Chilean Rare Earth company, today announced the signing of a commercial agreement to produce separated rare earth oxides from MBL ionic clay deposit. The Parties expect to produce fifteen (15) high purity rare earth oxides with initial salable product expected in first half of 2019. This is a significant milestone for the rare earth industry. Together they will be bringing into production and establishing a consistent, high value, low cost, and environmentally friendly rare earth supply chain outside of China, said Dr. Joseph Brewer, Chief Executive Officer of RES. MBL has the most advanced and attractive deposit they have tested globally and they are an ideal partner for RES to facilitate the full scale production of rare earth oxides. The deposit is very similar to those in Southern China which supply most, if not all of the world heavy rare earth production today.
The Commercial agreement will see initial production of 500 metric tons per annum of rare earth oxides. MBL will produce a 95% pure Rare Earth Oxide Concentrate in Chile using its environmentally friendly and proprietary extraction process. The concentrate will be shipped to a RES facility for separation and purification using its proprietary technology. For more, see: http://rareearthsalts.com/ and http://biolantanidos.com/english/
Original URL: https://globenewswire.com/news-release/2017/04/06/955340/0/en/Rare-Earth-Salts-and-BioLantanidos-Sign-Commercial-Agreement.html
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