Australia to propose tax incentives for critical minerals
The proposed law will set up a tax incentive worth 10% of relevant processing and refining costs for 31 critical minerals.
Hastings Rare Metals Limited (ASX:HAS) announces the results of a recent sampling programme at the Yangibana Project in Western Australia. Assays return up to 12.8% total rare earth oxides, confirming the potential for a high neodymium oxide resource. The Company is considering a major drilling programme to further define the drilled targets and establish JORC-compliant resources in 2012.
iCash Payment Systems Limited (ASX:ICP) has determined to delay the targeted completion date of the proposed acquisition of further interest in NeoICP Korea Inc.. Due to a strengthened valuation of the Australian iCash business relative to the Korean NeoICP business, iCash are seeking to revise the transaction terms for acquisition. iCash is a vertically integrated ATM payments business that has designed, manufactured and sold over 12,000 ATMs in Korea and deployed over 1,500 ATMs in Australia.
Globe Metals & Mining (ASX:GBE) has signed an agreement to acquire up to 90% interest in a titanium-vanadium-iron project in Mozambique. Very high grades of titanium with additional vanadium were returned from rock-chip samples taken in Globe’s recent due diligence program. Separate high-grade magnetite zone was also identified with two samples averaging 66.8% Fe.
Mission NewEnergy Limited (NASDAQ:MNEL) (ASX:MBT), a global provider of environmentally sustainable biofuels, will build a major waste material processing facility in Malaysia. The plant will be the first of its kind to recover palm oil from Spent Bleached Earth, a kind of waste material that historically has no application.
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