Australia’s Northern Minerals Ltd., formerly Northern Uranium Ltd., has signed a Memorandum of Understanding (MoU) with a major global mining and chemicals player for future offtake of product from its Browns Range heavy rare earths project.
The offtake agreement is for a period of five years, with Northern Minerals’ buyer having agreed to purchase up to 1,500 tons of rare earth elements annually.
Northern Minerals MD George Bauk noted, “The fact that it is not for the entire anticipated production allows us to continue discussions with other parties to capture additional value in the future.”
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