Canada Rare Earth Acquires Majority Stake in Laos Rare Earth Refinery
January 11, 2025
According to Magnet Materials News, on January 9, 2025, Canada Rare Earth Corp. announced plans to acquire a 70% stake in a rare earth refinery in Laos. This acquisition aims to enhance supply security and economic benefits.
Canada Rare Earth Corp. (TSE:LL) has released its latest announcement.
The company has signed a memorandum of understanding (MOU) to acquire a 70% stake in a licensed rare earth refinery in Laos with an annual production capacity of 3,000 tons. This acquisition aligns with a policy shift by the Lao government, which now supports domestic processing of rare earth elements to boost economic benefits and reduce supply risks for refineries.
Additionally, the company is negotiating offtake agreements and investments with potential partners, which are critical for the refinery’s operational success. Canada Rare Earth also plans to join a joint venture to co-develop a rare earth mining project in Laos.
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Canada Rare Earth Acquires Majority Stake in Laos Rare Earth Refinery
According to Magnet Materials News, on January 9, 2025, Canada Rare Earth Corp. announced plans to acquire a 70% stake in a rare earth refinery in Laos. This acquisition aims to enhance supply security and economic benefits.
