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16/01/23

10:22

Post #: 65707507
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Originally posted by AndyMzz ↑

Couple of quoted lines from a Fin Times article below

Initial reports sound like an exciting discovery for LKAB, however, it will have no medium term impact on offtakes. As mentioned above, there is a binding commitment. This has an option for up to 10 years.

"According to LKAB, it’s the largest known deposit of its kind in Europe. But the company warned that it could take at least a decade before mining starts."
"LKAB – which also develops carbon-free iron ore projects – said the deposits of rare earth were found close to the world’s largest underground iron ore mine that it runs in Kiruna. Exploration won’t start for years, even if permits are delivered very fast. If we look at how other permit processes have worked within our industry, it will be at least 10-15 years before we can actually begin mining and deliver raw materials to the market"

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so LKAB needs product now

cannot wait to see the output from REEtec using VML product

VML Price at posting: 2.6¢ Sentiment: None Disclosure: Held
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