China Environmental Resources Group (SGX:UIX, HKG:1130) signed a memorandum of understanding with Goldwin Century to explore cooperation in rare earth-based projects in China, according to a Friday filing on the Singapore Exchange.
The deal includes a 180-day due diligence review of Sichuan YLS, a rare earth magnet producer for electric vehicles. The agreement is non-binding, pending further negotiations and a formal contract.
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