Australia's Northern Minerals signs rare earths supply deal with Germany's Thyssenkrupp 9:00pm EDT [Reuters]
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Source: Reuters
Australia's Northern Minerals signs rare earths supply deal with Germany's Thyssenkrupp - Reuters 2 Min Read (Reuters) - Australia’s Northern Minerals Ltd said on Monday it has signed a rare earths supply agreement with Germany’s Thyssenkrupp AG, just days after terminating a deal with China’s Lianyugang Zeyu New Materials Sales Co. Thyssenkrupp has agreed to purchase the entirety of the heavy rare earth carbonate from the Browns Range project, Northern Minerals said in a statement. The company did not disclose the financial terms of the deal, which takes effect immediately and includes current stockpiled product. Northern Minerals Chief Executive Officer George Bauk said the company will benefit from the lack of price caps in the agreement, noting that Dysprosium and Terbium prices are up 60 percent and 35 percent respectively over the year to date as electric vehicles become more popular. Prices of rare earths elements have jumped this year on speculation that China, which controls
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