Kazera Global to acquire rare earth elements project in Kenya
2022-06-22 14:45:19 [Print]
UK-based Investment company Kazera Global has struck a binding heads of terms agreement to acquire a 71% interest in Great Lakes Graphite Inc., in order to take control of three exploration licenses covering the Homa Bay and Buru Hill rare earth elements projects in Kenya.
The company said on Tuesday that the majority of historical work had only been done in the Buru Hills licence area, which has a JORC compliant exploration target of 27 million tonnes at a grade of 1.89% for 510Kt of total rare earth elements.
Historic detailed data estimates approximately 65,000 tonnes of Ce, 52,000 tonnes of La and 18,000 tonnes of Nd from an assumed low recovery rate of 50% of the top 50m layer of the resource.
According to the company, the acquisition will cost it a total of ￡750,000, to be paid for in three ￡250,000 tranches, with all consideration to be satisfied by the issuance of shares.
The company said on Tuesday that the majority of historical work had only been done in the Buru Hills licence area, which has a JORC compliant exploration target of 27 million tonnes at a grade of 1.89% for 510Kt of total rare earth elements.
Historic detailed data estimates approximately 65,000 tonnes of Ce, 52,000 tonnes of La and 18,000 tonnes of Nd from an assumed low recovery rate of 50% of the top 50m layer of the resource.
According to the company, the acquisition will cost it a total of ￡750,000, to be paid for in three ￡250,000 tranches, with all consideration to be satisfied by the issuance of shares.
PrNd Mischmetal Pr 25%, Nd 75% FOB China
Unit:USD/kg
China's rare earth seperation plants' output statistics by province by month
Unit: mt
