Osmond Resources Agrees to Collaborate With Spanish Engineering Firm for Mixed Rare Earth Carbonate Production; Shares Down 5%
MT Newswires Live
Feb 23
Osmond Resources (ASX:OSM) agreed to collaborate with Spanish engineering firm Técnicas Reunidas to produce mixed rare earth carbonates and oxides for the European Union market, according to a Monday filing with the Australian bourse.
Under the agreement, Osmond Resources will own the mixed rare earth carbonates facility while Técnicas Reunidas will provide the technology as well as engineering, procurement, and construction services, the filing said.
The companies will target Spanish and EU funding to support the project, per the filing.
Osmond Resources shares fell 5% in midday trade on Monday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.