24 February 2021
Vital Metals Limited (ASX: VML) (“Vital Metals” or “the Company”) is pleased to announce it has produced a rare earth carbonate sample within specification at its Nechalacho Project in the North West Territories (“NWT”) in Canada.
Managing Director Geoff Atkins said, “Production of a rare earth carbonate sample which meets specification is an important milestone as we move towards rare earth production at the project this year.
“It has allowed us to finalise the process flowsheet and commence our program to provide samples of our product to our off-take partner REEtec in Norway, as well as other potential customers. REEtec can use the sample as part of customer acceptance protocols as outlined in Vital’s agreement with the company.”
Production of the sample follows Vital’s execution of a definitive agreement with Norwegian rare earth separation company REEtec AS earlier this month and continues Vital’s progress towards rare earth production in CY2021. Under the agreement, Vital will provide REEtec an annual volume of 1,000 tonnes of rare earth oxide (ex-cerium or ~2,000t TREO) over five years, with the option to increase this offtake volume up to 5,000 tonnes REO (ex-cerium or ~10,000t TREO) per annum over 10 years (subject to a corresponding supply agreement).