"Setopia, a South Korean software developer, announced on May 8 that it has signed an agreement to establish a joint venture company in South Korea with Vietnam Rare Earth = VTRE, which is engaged in the rare earth business, with the aim of building a supply network for rare earth oxides.
The new joint venture will receive up to 1,500 tons of rare earth oxides per year from VTRE. These will be processed into metal or permanent magnets and then sold to companies in Korea and abroad. For this reason, the new joint venture plans to establish a metal processing plant in North Chungchun-do, South Korea."
Not sure what to make of this either, is the metals processing plant they are referring to KSM? Or is Setopia building their own metals plant?
ASM Price at posting:
$1.29 Sentiment: None Disclosure: Held
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