HIGHLIGHTS
- Collaboration Agreement signed with Técnicas Reunidas (TR)
- Parties to collaborate to deliver the EU’s first vertically integrated production of Mixed Rare Earth Carbonates (MREC) and Oxides (MREO)
- OSM targeting to be a significant global producer of rare earth bearing monazite
- TR is the leading company for the PERMANET Project (PERmanent MAgnet Network for the European Transition) promoted by the European Commission (EC) within the framework of its Horizon Program
- TR has deep experience suppling the market with its own technology, RARETECH, which produces rare earth concentrates from monazite
- TR is listed on the Madrid Stock Exchange (BME) and employs nearly 14,000 people.
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Osmond Resources Limited (ASX:OSM) (Osmond or the Company) is pleased to advise it has signed a collaboration agreement with Técnicas Reunidas (TR) to collaborate to deliver the EU’s first vertically integrated production of Mixed Rare Earth Carbonates (MREC) and Oxides (MREO).
Key items include:
- Parties to use reasonable endeavours to support each other with respect to the extraction of monazite and production of MREC in the EU.
- Parties to target Spanish and EU funding opportunities to support the Project.
- OSM to own the MREC facility with technology and EPC services provided by TR.
About Técnicas Reunidas
Técnicas Reunidas is a global engineering company that has developed more than 2,600 projects in over 70 countries throughout its 65-year history. It focuses on the design and construction of large industrial plants dedicated primarily to the production of clean fuels, natural gas, and chemical products. The company is also at the forefront of technologies and solutions related to energy transition, the circular economy, and the decarbonisation of facilities.
TR has been selected as the leading company for the PERMANET Project (PERmanent MAgnet Network for the European Transition) promoted by the European Commission (EC) within the framework of its Horizon Program. The main goal of the project is to create the first complete European value chain for the production of permanent magnets.
TR has proven experience in this field, as it already supplies the market with its own technology, RARETECH, which allows obtaining rare earth concentrates in the form of carbonates from ores.
TR is listed on the Madrid Stock Exchanged (BME), employs nearly 14,000 people and in 2024 had revenues of over €4.4 billion (over A$8bn).
-ENDS-
Contact details:
Anthony Hall
Managing Director and CEO
[email protected]
+61 417 466 039
Elvis Jurcevic
Investor Relations
[email protected]
+61 408 268 271
