Canada Rare Earth Secures Major Stake in Laos Rare Earth Refinery

The latest announcement is out from Canada Rare Earth ( (TSE:LL) ).

Canada Rare Earth Corp. has entered a Memorandum of Understanding to acquire 70% of a permitted rare earth refinery in Laos, which has a production capacity of 3,000 tonnes per year. This acquisition aligns with the Lao government’s policy reversal, which now supports in-country processing of rare earth elements, enhancing economic benefits and reducing supply risks for the refinery. Additionally, the company is negotiating with potential partners for offtake agreements and investments, which are crucial for the refinery’s operational success. Furthermore, Canada Rare Earth plans to enter a joint venture to co-develop a rare earth mining project in Laos. However, these developments have led to a trading halt on the company’s shares pending regulatory approval for a Change of Business under TSX.V policy.

More about Canada Rare Earth

Canada Rare Earth Corp. operates in the rare earth industry, focusing on the acquisition, development, and processing of rare earth elements. The company is involved in projects that aim to process rare earth concentrates and produce a full suite of commercially traded rare earth oxides, catering to a global market with a growing demand for these critical materials.

YTD Price Performance: 11.11%

Average Trading Volume: 69,817

Technical Sentiment Consensus Rating: Strong Buy

Current Market Cap: C$4.23M

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