Australia's Northern Minerals signs rare earths supply deal with Germany's thyssenkrupp
2019-08-13 09:34:59 [Print]
On August 12, Australian-based Northern Minerals Ltd. stated that it has signed a rare earths supply agreement with Germany's thyssenkrupp AG, just days after terminating a deal with China's Lianyugang Zeyu New Materials Sales Co., Ltd.
According to the Northern Minerals' statement, thyssenkrupp has agreed to purchase the entirety of the heavy rare earth carbonate from the Browns Range project.
The company did not disclose the financial terms of the deal, which takes effect immediately and includes current stockpiled product.
The new deal also includes a provision for thyssenkrupp to work with Northern Minerals on potential future expansion of the project.
Northern Minerals cited a contract breach when it cancelled its two-year agreement with Lianyugang Zeyu on August 6, but did not give further details.
According to the Northern Minerals' statement, thyssenkrupp has agreed to purchase the entirety of the heavy rare earth carbonate from the Browns Range project.
The company did not disclose the financial terms of the deal, which takes effect immediately and includes current stockpiled product.
The new deal also includes a provision for thyssenkrupp to work with Northern Minerals on potential future expansion of the project.
Northern Minerals cited a contract breach when it cancelled its two-year agreement with Lianyugang Zeyu on August 6, but did not give further details.
