RareX Limited (ASX: REE) has taken another important step towards de-risking the infrastructure supply and export pathway for its 100%-owned Cummins Range Rare Earths & Phosphate Project located in the Kimberley region of Western Australia, after securing a strategically located parcel of land at Wyndham Port.
The company has signed a call option deed with the owner of Lot 715, Barytes Road, Wyndham Port for 4ha of land suitable for the storage and transfer of product from all stages of the Cummins Range Project. The call option deed includes the agreed form of the contract of sale that the parties will enter into should RareX elect to exercise its option to purchase the land.
CEO, James Durrant, said, “As a result of these recent breakthroughs, we now have the bulk loading facility infrastructure sharing term sheet signed with KMG for at least 600ktpa of OGV loading capacity1 and the adjacent 4 hectares of land locked up under an option agreement. This materially de-risks the supply chain for our Cummins Range critical minerals project. Coupled with the off-take MOU with Nitro2, we are rapidly stitching together the supply and value chain for this project.”
Additionally, RareX has the right to enter the property during the option period to conduct investigations pertaining to the civil construction necessary for the design and installation of bulk handling and storage infrastructure.
RareX now plans to prepare an integrated commercial and technical solution for the port, tying together the storage area and the bulk loading facility.
To find out more, please visit www.rarex.com.au
To read more articles like this, please visit www.theassay.com/news
