Tantalus Rare Earths AG

  • WKN: A1MMFF
  • Land: Deutschland

Nachricht vom 13.05.2015 | 12:12

Tantalus Rare Earths AG: Tantalus Signs Supply Contract with ThyssenKrupp


DGAP-News: Tantalus Rare Earths AG / Key word(s): Contract

2015-05-13 / 12:12

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Grünwald, Germany, 13 May 2015. Tantalus Rare Earths AG ("Tantalus") (ISIN
DE000A1MMFF4) is delighted to announce the signing of a multi-year supply
contract for rare earth oxides with ThyssenKrupp Metallurgical Products
GmbH ("ThyssenKrupp").

Under the agreement, ThyssenKrupp will annually purchase 30 per cent of the
output (up to 3,000 tons, once full production capacity is reached) of
mixed rare earths oxide from the Tantalus' project in Northern Madagascar.
ThyssenKrupp will act as Tantalus' exclusive distributer in Germany, and
one of the distributors for Europe. The initial duration of the contract is
three years from the start of commercial production at the project, with
the option to extend it for a further seven years. The option for a total
duration of 10 years is subject to ThyssenKrupp arranging debt funding for
Tantalus covering 30 per cent of the planned investments until annual
production level of 10,000 tons of mixed rare earths oxide is reached.

The pricing of the mixed rare earths oxide in this contract is linked to
the content of various rare earths oxides present in the Tantalus product
as well as to independently quoted market prices of such oxides. Rare Earth
Elements identified in the Tantalus ionic clay deposit include
Praseodymium, Neodymium, Terbium and Dysprosium, all in high demand for
fast-growing magnet applications in the automotive and renewable energy
industries.

Tantalus will commence commercial production upon receipt of the necessary
exploitation license, currently expected in the second half of 2016. After
a ramp-up period of app. three years Tantalus is expected to reach its
first phase full-production level of 10,000 tons per annum of mixed rare
earths oxide.

With the purchase agreement signed with Shenghe Resources in February 2015
and the contract signed with ThyssenKrupp, Tantalus now has agreements
covering 6,000 tons or 60 per cent of its planned annual production. This
represents an annual value of app. USD 180 million based on current market
prices for rare earths. Production of 10,000 tons per annum from the
Tantalus project will be worth app. USD 300 million.

The resource estimate made by SGS published in December 2014 shows app.
560,000 tons of contained total rare earth oxides as measured, indicated
and inferred resources. With a production of 10,000 tons per annum, this
represents a mine life of 50 years.

Thomas Hoyer, Tantalus Rare Earths CEO commented: "This contract we have
signed with ThyssenKrupp is not only a significant milestone for Tantalus
but it also represents a further key endorsement of both the viability of
our rare earths project in Madagascar and the robust demand for the magnet
rare earth metals we will produce. We have now gained two globally leading
companies in our sector as commercial partners, ThyssenKrupp from Germany
and Shenghe Resources from China. We are now extremely well positioned to
become one of the globally leading suppliers of magnetic rare earths
material used in fast growing technological applications, such as electric
cars and in renewable energy."

About Tantalus Rare Earths AG

Tantalus Rare Earths AG (ISIN: DE000A1MMFF4) is a German holding company,
which, through its subsidiary, holds a 100 % interest in a large ionic clay
based rare earths exploration project in North West Madagascar. The shares
of TRE AG are listed on the primary market of the Düsseldorf Stock
Exchange, Germany. Bloomberg: TAEN GR; Reuters: TAEN.D

About ThyssenKrupp Metallurgical Products GmbH

ThyssenKrupp Metallurgical Products GmbH is part of the Business Area
Materials Services of ThyssenKrupp group, a diversified industrial
corporation based in Essen, Germany, and ranks amongst the leading
commodity trading houses in the world.

Further enquiries:

Tantalus Rare Earths AG
Thomas Hoyer, CEO
Tel: +49 1512 401 7229
Thomas.hoyer@tre-ag.com

Markus Kivimäki, EVP
Tel.: +358 503495687
Markus.kivimaki@tre-ag.com

German media contact: 
rikutis consulting
Mr. Falk v. Kriegsheim
Tel.:  +49 172 9837109
fvk@rikutis.de

London media contact:
Bell Pottinger
Daniel Thöle / Marianna Bowes 
Tel.: +44 (0)20 3772 2500



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2015-05-13 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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