EANS-News: Tantalus Rare Earths AG /
12.12.2012 – 13:02
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Joint Ventures/Cooperation/Collaboration Grünwald (euro adhoc) - THYSSENKRUPP AND TANTALUS SIGN MOU FOR JOINT EVALUATION ON MADAGASCAR RARE EARTHS PROJECT Gruenwald 12 November 2012 - ThyssenKrupp Metallurgical Products GmbH ("ThyssenKrupp") and Tantalus Rare Earths AG ("TRE"), are pleased to announce the signing of a Memorandum of Understanding ("MOU") providing for joint evaluation of the large near surface Tantalus rare earth project in Madagascar and the exclusive European supply of these rare earth products to ThyssenKrupp. The Tantalus project is emerging as one of the largest clay hosted rare earth resources outside of China, with 130Mio. tons of rare earth oxide ("REO") 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 REO's are in the valuable "heavy" category, and contain low levels of associated uranium and thorium. Tantalus decided to increase work on the reserve and will start a major environmental and social impact study in first half 2013. The MOU will be followed by an off-take agreement for the exclusive European supply of rare earth products / concentrate. While TRE accelerates exploration and development of the Tantalus deposit and commences the environmental and social impact studies required ahead of mine development, the two companies will jointly indentify potential financing parties for a rare earths trading platform and discuss technical matters. The MOU with ThyssenKrupp supersedes the previous LOI signed with Rhodia. Tantalus CEO Mr Juergen Schillinger said: "We are pleased to have teamed up with one of the world's leading commodity trading companies who is not only a strategic partner for the distribution of our products, but can also assist Tantalus to optimize, including but not limited to, the metallurgical processing of our rare earth concentrates." Tantalus Rare Earth AG is listed on the open market of the Frankfurt Stock Exchange and owns 100% of the Tantalus Rare Earths Project. MANAGEMENT BOARD TRE AG Further inquiry note: Für weitere Informationen kontaktieren Sie bitte: Juergen Schillinger, Chief Executive Officier Tel: +49 (0) 89 693 960 66 Email: schillinger@tre-ag.com www.tre-ag.com David Rigoll, Director Tel: +44 7500 068555 Email: rigoll@tre-ag.com Paul Weigh Blythe Weigh Communications Tel: +44 (0) 20 71383204 oder +44 (0) 7989 129658 end of announcement euro adhoc -------------------------------------------------------------------------------- company: Tantalus Rare Earths AG Nördliche Münchner Str. 16 D-82031 Grünwald phone: +49 (0)89 693 960 66 FAX: +49 (0)89 693 960 68 mail: contact@tre-ag.com WWW: www.tre-ag.com sector: Holding companies ISIN: DE000A1MMFF4 indexes: stockmarkets: Open Market: Frankfurt language: English