VHM Limited (ASX: VHM), has executed a binding offtake agreement with Shenghe Resources (Singapore) Pte. Ltd., a wholly owned subsidiary of global rare earths company, Shenghe Resources Holding Co., Ltd. in relation to its flagship Goschen Rare Earth and Mineral Sands Project (Phase 1) products.
The binding offtake is for 6,400 tonnes per annum of rare earth minerals concentrate and 100,000 tonnes zircon/titania heavy minerals concentrate products (each approximately 60% of forecast production per annum) from the Goschen Project, for an initial three-year term.
VHM Chief Executive Officer, Ron Douglas said: “Shenghe is a globally recognised rare earths and mineral sands processor. This agreement between VHM and Shenghe is a strong endorsement of the world-class rare earths and mineral sands resource, and the strategic value of the Goschen Project. A binding offtake arrangement for first production provides a favourable influence on the bankability for the Project, and further distinguishes the staged development approach of the Goschen Project as a viable, de-risked, low capital intensity project.”
To see the ASX announcement, please click here.
The HWL Ebsworth team was led by Nick Karagiannis, Partner with support from Braydon Cordingley, Solicitor.
Note to Editors:
HWL Ebsworth is the largest legal partnership in Australia according to the most recent partnership surveys published by the Australian Financial Review.
The firm comprises 1,641, staff including 277 Partners, 1,000 other legal staff and 364 support staff across offices in nine locations – Adelaide, Brisbane, Canberra, Darwin, Melbourne, Hobart, Norwest (North West Sydney), Perth and Sydney.
HWL Ebsworth is an independent, nationally integrated, full service commercial law firm, providing tailored and commercially oriented legal services.
HWL Ebsworth operates a different business model to the other leading national law practices, and this allows us to offer unrivalled value for money without compromising quality and service. Our low ratio of solicitors to partners ensures that our clients receive optimal access to partner resources for all matters.
For further information, please contact:
Russell Mailler, Chief Strategy Officer (03) 8644 3569 or email@example.com
Angelique Kear, National Marketing Manager (02) 9334 8541 or firstname.lastname@example.org