It will be the first vertically integrated production of Mixed Rare Earth Carbonates (MREC) and Oxides (MREO) in the European Union
The Spanish company Técnicas Reunidas and the Australian company Osmond Resources recently announced a collaboration agreement to work together on the first vertically integrated rare earth production plant in the European Union.
This joint project will be located in the province of Jaén. Osmond Resources already has several projects underway in Spain, such as the European Union's Orion project and the Iberian One project in the province of Segovia.
The agreement stipulates that both companies will support each other in the extraction of monazite and the production of Mixed Rare Earth Carbonates (MREC). They will also seek financing opportunities from both Spain and the EU to support the project. Osmond Resources will own the MREC facility, with technology and EPC services provided by Técnicas Reunidas.
The Spanish company has extensive experience supplying the market with its own technology, Raretech, which produces rare earth concentrates from monazite. Furthermore, it is the leading company in the PERMANET project, promoted by the European Commission under its Horizon program. The main objective of this project is to create the first complete European value chain for the production of permanent magnets.
Osmond Resources announcement regarding its collaboration with Técnicas Reunidas
News article in El Economista
News article in The Australian
