8th Apr 2015 08:20
LONDON (Alliance News) - Rare Earth Minerals PLC on Wednesday said Hastings Rare Metal Ltd, its joint venture partner on the Yangibana rare earth elements project in Australia, has hired consultants to develop the pre-feasibility study for the project.
Rare Earth, which holds a 30% interest in the project to Hastings' 70%, said Tetra Tech Proteus, an Australia-based engineering group, has been appointed as the lead consultant. Snowdon Mining Consultants, Core Process Engineering and ATC Williams also have been appointed to work on the project.
The pre-feasibility study for the project is due to be completed by the end of the fourth quarter of 2015.
"We are pleased with the appointment of a highly experienced [pre-feasibility study] team, including individuals well-versed in developing REE deposits. We eagerly anticipate the outcome of the Yangibana REE Project PFS, and are confident that this team will enable the acceleration of its delivery," said Rare Earth Chairman David Lenigas.
Shares in Rare Earth were up 1.2% to 1.24 pence in early trade.
By Sam Unsted; [email protected]; @SamUAtAlliance
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