Canada Rare Earth enters into agreement to purchase a rare earth separation refinery situated in Laos
Canada Rare Earth Corporation has entered into an agreement to purchase 60% of the issued and outstanding shares of a company based in Laos. The Laos company owns a full capability rare earth refinery that is designed to process monazite rare earth concentrate and separate the concentrate into the entire spectrum of commercially traded rare earths including light and heavy elements.
The company’s future development plans entail extending capabilities to include rare earth metal making.
The configuration of the refinery is based on years of design, construction and operating experience in separating rare earth concentrates into individual rare earth oxides to at least 99.99% purity. The engineering team that designed and built the refinery has built 10 similar refineries that each produce over 3,000 tpa of rare earths including heavy and light elements.
As a part of the transaction the refinery will become a core element in the Canada Rare Earth’s operations. Canada Rare Earth will market internationally and sell products directly to customers globally.