Tantalus Rare Earths AG

EANS-News: Tantalus Rare Earths AG AND RHODIA SIGN LOI FOR TECHNICAL CO-OPERATION AND OFFTAKE FROM MADAGASCAR RARE EARTHS PROJECT

--------------------------------------------------------------------------------
  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
--------------------------------------------------------------------------------
Contracts/LOI between Tantalus and Rhodia


Düsseldorf (euro adhoc) - RHODIA AND TANTALUS SIGN LOI FOR TECHNICAL
CO-OPERATION AND OFFTAKE FROM MADAGASCAR RARE EARTHS PROJECT

(Lyon, FRANCE, Düsseldorf, GERMANY, April 23rd 2012); Rhodia, a member of the
Solvay Group, and Tantalus Rare Earths AG are pleased to announce the signing of
a Letter of Intent ("LOI") relating to technical cooperation for the development
of an optimal process for generating rare earth concentrates from the large near
surface Tantalus rare earth project in Madagascar and the exclusive supply of
these rare earth products to Rhodia.

The Tantalus project is emerging as one of the largest clay hosted rare earth
resources outside of China, with 130Mt of rare earth bearing clays already
identified from a small portion of the project area on the Ampasindava Peninsula
in north-western Madagascar. Analysis of the Tantalus material has shown that
approximately 20% of the rare earths are in the valuable "heavy" category.
A definitive Technical Cooperation Agreement and Offtake Agreement for up to
15,000 tonnes per annum of rare earth products from Tantalus will follow the
LOI.

Tantalus CEO Mr David Rigoll said: "After discussions with all of the major
participants in the rare earths processing and supply sector, we are pleased to
have agreed terms with the world's number one producer of rare earth products
Rhodia as our exclusive technical and marketing partner to assist in
fast-tracking our Tantalus project to commercial production.

Fréderic Carencotte, Industrial Director for Rhodia Rare Earth Systems, added:
"This agreement represents a further step in our sourcing diversification
strategy. The composition and nature of this deposit, i.e. ionic clays, seems
very promising for reliable and competitive access to heavy rare earths."

About Tantalus Rare Earths ("TRE")

TRE is a German incorporated holding company whose subsidiaries are engaged in
the exploration and development of rare earths. TRE's shares are quoted on the
Open Market of the Frankfurt Stock Exchange.

TRE's principal asset is an exploration project located in north-western
Madagascar and comprises rare earth-tantalum-niobium-zirconium-hafnium enriched
dykes and sills and Rare Earth Element ("REE") bearing Lateritic Clays derived
from the weathering of underlying alkaline intrusives.

There are numerous indications that most of the alkaline intrusive bodies within
the concession are overlain by REE bearing Lateritic Clays. TRE is therefore
considering the whole area underlain by alkaline intrusives (150 to 170 sq km)
as prospective for secondary REE mineralisation in the weathering crust.

The exploration programme aims to define the primary (vein/skarn hosted) and
secondary (argillaceous Laterites) mineralisation present on the concession
towards a JORC compliant mineral resource estimate and support a initiation of
the staged technical and economic studies which could lead to mine development
and production.

Tantalus Rare Earths AG
Berliner Allee 12
40212 Düsseldorf
Deutschland
Telephone: +49 (0) 211 52391 430
Fax: +49 (0) 211 52391 200
e-Mail: contact [at] tre-ag.com
Internet: http://www.tre-ag.com


Further inquiry note:
For further information contact:
Wolfgang Hampel, Chief Operating Officer

Tel: +41 (0) 79 270 2095
Email: hampel@tre-ag.com

David Rigoll, CEO 
Tel: +44 7500 068555
Email: rigoll@tre-ag.com

Paul Weigh
Blythe Weigh Communications
Tel:   +44 (0) 20 71383204
or     +44 (0) 7989 129658

end of announcement                               euro adhoc 
--------------------------------------------------------------------------------


company:     Tantalus Rare Earths AG
             Berliner Allee 12
             D-40212 Düsseldorf
phone:       +49 (0)211 52391 430
FAX:         +49 (0)211 52391 200
mail:        contact [at] tre-ag.com
WWW:      http://www.tre-ag.com
sector:      Holding companies
ISIN:        DE000A0SMSL4, DE000A1KRQE7
indexes:     
stockmarkets: free trade/entry standard: Frankfurt 
language:   English
 



Weitere Meldungen: Tantalus Rare Earths AG

Das könnte Sie auch interessieren: