Deutsche Rohstoff AG: Ceritech AG signs term sheet with Copebrás in Brazil for further Rare Earth project development
Mannheim/Leipzig. Ceritech AG, 67,9 % owned by Deutsche Rohstoff AG, announced today that is has signed a non-binding Term Sheet with the Brazilian company Copebrás Indústria Ltda (Copebrás). The Term Sheet outlines the future development of the extraction of Rare Earth Elements from phosphogypsum. Essential elements of the Term Sheet include the conduct of beneficiation test work and the preparation of an early stage economic feasibility study. Copebrás is the second largest phosphate fertilizer business in Brazil, and is wholly owned by the international resource company China Molybdenum Co. Ltd. (CMOC), following an acquisition from Anglo American in September 2016. One of the by-products of the production process is Rare Earth-bearing phosphogypsum. Ceritech intends to use this phosphogypsum to establish a low-cost Rare Earth producer by eliminating exploration and mining costs. With the signed Term Sheet, both parties intend to cooperate in additional beneficiation and downstream test work. The results are expected to become available in the second half of 2017.
Jörg Reichert, CEO of Ceritech AG comments: "We are very pleased that we could resume the project development following CMOC's acquisition of the fertilizer division from Anglo American. The Term Sheet offers a very good basis for the future development of the project and should help to expand our understanding about the economics of the project."
Mannheim, 28 June 2017
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