WMI Signs Rare Earth Deal With Zetai
The 37.7-km2 heavy rare earth mine contains an ion-absorbed rare earth ore with a full-phase grade of 0.09% (REO), and a single-phase ore grade of 0.075%- 0.108% (REO). The pattern of the mine is Yttrium-rich Europium-type rare earth ore, and the rare earth reserves of the entire area is 340,000 tons (REO). Based on exploration results and available data, the rare earth resources are estimated to be about 350,000 tons of all-phase rare earth oxide. A total of 250,000 tons of rare earth oxide can be extracted, with a current market value of RMB 58 billion ($8.4 billion).
“This heavy rare earth project is a unique investment opportunity,” Rault said. “The value of rare earth materials continues to rise based on global demand and limited supply and we’re confident that this project will create ongoing revenue and profits.” “We are excited to partner with Mr. Rault, who brings his extensive expertise, international experience, and proven track record to this project,” said Du, chairman of Zetai. “We’re confident that this project will be greatly beneficial to China, and we look forward to a long-term partnership with Mr. Rault to develop other mining projects in Africa and Southeast Asia.”