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ISR Capital signs MOU with Chinese firm for Madagascar project

Metal News - Published on Wed, 26 Jun 2019

Image Source: SG
Business Times reported that ISR Capital has entered into a non-binding memorandum of understanding with China Nonferrous Metal Industry’s Foreign Engineering and Construction Co to commence negotiations on potential developments for its 75% owned rare earth mining concession located in north-western Madagascar, Africa. The MOU sets out the framework for discussion, including the purchase by NFC of up to 3,000 tonnes of the Madagascar project’s output within the first three years of successfully commissioning production facilities. This is subject to the products meeting the quality requirements for the Chinese market, which will be determined by an independent surveyor.

Under the MOU, NFC will also provide engineering procurement and construction services, and potentially invest in the project. The MOU will expire two years from its commencement date.

NFC is a Chinese state-controlled company listed on the Shenzhen Stock Exchange, specialising in the fields of nonferrous metal industries and projects worldwide.

Source :

Posted By : Ratan Singh on Wed, 26 Jun 2019
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