GWMG to supply rare earth alloys to German firm SHARE
Great Western Minerals Group (GWMG) has entered into a long-term agreement with German firm Vacuumschmelze (VAC), to supply rare earth alloys and metals.
Under the terms of the agreement, GWMG’s subsidiary Less Common Metals (LCM) will be a major supplier to VAC, producing and supplying neodymium / dysprosium alloys, samarium alloys and associated metals produced for VAC’s permanent magnet operation.
The alloy / metal production will be based on the long-term supply of rare earth feed materials from GWMG’s Steenkampskraal mine in Cape Town, South Africa.
LCM is also planning to install a new melting capacity to provide alloy composition and microstructure that will match VAC’s specifications in the future.
VAC will purchase a minimum 50% share of rare earth material needs from GWMG as part of the agreement.