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09/06/2011

Great Western Minerals' Jim Engdahl updates Proactive on the company's "mines to metals" strategy

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Additional Information
Market: TSX-V
Sector: General Mining - Rare Earth Minerals
EPIC: GWG
Latest Price: C$0.41  (3.85% Ascending)
52-week High: C$0.98
52-week Low: C$0.30
Market Cap: C$168.68M
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Great Western Minerals Group
www.gwmg.ca

Great Western Minerals Group Ltd. is a Canadian-based company with six rare earth exploration and development properties in North America with an option on a sizable additional property in South Africa. In addition, as part of the Company’s strategy to pursue a vertically-integrated business model, the Company's wholly-owned subsidiaries of Less Common Metals Limited located in Birkenhead UK, and Great Western Technologies Inc., located in Troy, Michigan, produce a variety of specialty alloys for use in the battery, magnet and aerospace industries. These "designer" alloys include those containing copper, nickel, cobalt and the rare earth elements.

Full Great Western Minerals Group profile here
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Great Western inks long-term supply deal for its rare earth alloys with Toyota Group company

2nd May 2011, 7:43 pm by Deborah Sterescu

Rare earths processor Great Western Minerals Group (CVE:GWG) has secured a long-term supply agreement with Japan's Aichi Steel Corp, a specialty steel producer that is part of the Toyota Group, the company said Wednesday.

Great Western produces rare earth metals and alloys for the magnet industry around the globe, and has been supplying Aichi with neodymium iron boron (NdFeB) alloys for more than 10 years, which have been used to manufacture powerful magnet powder.

The new co-operation agreement allows for the long term supply of NdFeB alloys produced by Great Western, using rare earth oxides from the company's Steenkampskraal mine in South Africa. No other terms of the deal were disclosed.

Great Western's shares were up nearly 8% on the news, to trade at $0.83 as of 12:37pm EST on Wednesday.

The company is already working on doubling its planned capacity at its UK facility to accomodate the near term demand from Aichi.

Aichi has an electromagnetic division aimed at the development of new magnetic materials, which can be used for automotive and other applications. The company is also planning on doubling its current production facility in Seki, Japan, used for making the magnet powder.

"There has been a long term relationship between our companies and it is reassuring to know that ASC of the Toyota Motor Group will provide the cornerstone of demand for our rare earth products over the coming years," said CEO of Great Western, Jim Engdahl.

"This co-operation agreement ensures a guaranteed market for an important segment of the rare earth alloys we produce. It also provides a level of stability to our company that enables us to evaluate the expansion of our planned operations at Steenkampskraal in expectation of increasing demand."

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