19th Aug 2015 11:09
LONDON (Alliance News) - Rare Earth Minerals PLC's joint venture partner in the Yangibana Rare Earths Elements project in Western Australia has confirmed the grant of the mining lease over Yangibana Main.
Rare Earth Minerals noted the announcement by its 70% joint venture partner Hastings Rare Metals Ltd in a statement of its own on Wednesday afternoon in London. Rare Earth has the remaining 30%.
"The granting of the Mining Lease at Yangibana Main represents one of the critical milestones for the project, we look forward to results from the ongoing resource drilling and metallurgical test work and the completion of the Pre-Feasibility Study," Rare Earth Chairman David Lenigas said in a statement.
The mining lease was granted by the Western Australian Department of Mines and Petroleum.
Rare Earth Minerals shares were up 3.0% at 0.942 pence on Wednesday.
By Samuel Agini; [email protected]; @samuelagini
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