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Cadence Minerals flags up third off-take deal at Yangibana neodymium project

Cadence is a minority partner in the Yangibana project in Western Australia

The three MOUs signed so far account for around 2/5 of planned annual production from Yangibana

Cadence Minerals Plc (LON:KDNC) said its 70% joint venture partner in the Yangibana neodymium project, Hastings Technology Metals, has signed its third off-take agreement.

It's the third memorandum of understanding (MOU) agreement Hastings has signed with Qiandong Rare Earth Group for the future supply of mixed rare earth carbonate (MREC) from the Yangibana project in Western Australia.

The parties have agreed to talk about formalising a commercial off-take agreement for Hastings to sell 1,500 tonnes of MREC a year to Qiandong.

READ: Cadence in talks to sell Bacanora stake, details funding update for Yangibana partner

The latest agreement is for a period of three years, with an option to extend it to five years.

The three MOUs signed so far account for around two-fifths of planned annual MREC production from Yangibana.


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