Deutsche Rohstoff AG
- WKN: A0XYG7
- ISIN: DE000A0XYG76
- Land: Deutschland
Nachricht vom 10.01.2012 | 13:00
Deutsche Rohstoff AG: Foundation of 'Seltenerden Storkwitz AG' for development of the only known rare earth deposit in Central Europe
Deutsche Rohstoff AG / Key word(s): Miscellaneous
Deutsche Rohstoff AG: Foundation of 'Seltenerden Storkwitz AG' for development of the only known Rare Earth deposit in Central Europe
Heidelberg. Deutsche Rohstoff AG has established the 'Seltenerden Storkwitz AG', a new company in order to promote the development of the rare earth deposit Storkwitz in the license area Delitzsch/Saxony/Germany. The deposit is the only known rare earth elements (REE) deposit in Central Europe. REE are mainly found in high- and environmental technology. Historic exploration results state that the deposit in Saxony accounts for approximately 38,000 tons of rare earths and 8,000 tons of niobium. First round financing provided EUR 2.2 million and was conducted exclusively with investors from Germany. The initial target will be to transform the historical resource into an internationally accepted standard (JORC) and to significantly increase the deposit subsequently. With 63% Deutsche Rohstoff AG (DRAG) holds the majority of the Chemnitz-based Seltenerden Storkwitz AG. For the year 2012, an IPO is planned in Germany. Currently, the licence is being transferred from Deutsche Rohstoff AG to Seltenerden Storkwitz AG.
Dr. Titus Gebel, Chairman and CEO of Deutsche Rohstoff AG: 'The only known rare earth deposit in Central Europe can now be developed further. Since GDR times, geologists agree that this deposit could still grow to depth. Seltenerden Storkwitz AG has access to the best experts and was able to win Bernhard Giessel, an experienced industrial manager, as CEO.'
Bernhard Giessel, chairman of the new company, said: 'Not least because of the support of the increasing commodity policy of the Federal Government, actions of German companies gather pace, such as the planned 'Alliance for securing raw materials'. We are convinced that the deposit will also be of interest for German industry.'
Chance discovery during GDR times
In spring 2012, a drilling program will begin in order to transform the deposit into an internationally accepted resource according to the Australian JORC standard. Subsequently, the extension of the deposit at depth shall be examined further in particular. Historical exploration work lead to the assumption that the deposit has significant further potential. The discoverer, the German-Soviet uranium company Wismut, estimated the potential amount of REE up to 136,000 tons in 1975.
Rare earth elements: one of the most critical raw materials
Both the Federal Government of Germany and the EU Commission classify REE as a strategically important metals whose supply is endangered. Also within the German industry, the supply of the rare earth is viewed as critical.
Heidelberg, 10 January 2012
Deutsche Rohstoff AG (Heidelberg, Germany), listed in the Entry Standard segment of Frankfurt Stock Exchange, is establishing a new primary producer. The company's focus is placed on gold, oil & gas and so called high tech metals such as tin, tungsten, and rare earth metals. All projects are located in countries marked by political stability, the core area being Germany. The business concept is based on redeveloping deposits which have been well explored in the past. A first production started in January 2011. For more information please visit www.rohstoff.de.
+49 6221 871 000
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