As Appia Rare Earths and Uranium (CSE:API,OTCQX:APAAF) undergoes a due diligence process in its bid to acquire 70 percent of a rare earths ionic adsorption clay asset in Brazil, President Stephen Burega is touting the importance of such an addition to the company’s rare earths portfolio.
“It would make us one of very few companies in the world that have both heavy rare earths assets, as well as light rare earths assets,” Burega said. “We’ll have the next 90 days to do our due diligence, but we’re very, very excited about the potential, and it’s in the right location, very close to some near-term ionic clay production.”
He also noted the significance of potentially developing an ionic clay rare earths asset outside of China.
“The majority of the ionic clay assets have been held in and managed by China, and those that are outside of China have been owned by Chinese interests, for the most part,” he said. “So identifying an ionic clay asset of this type is of very strategic importance to the heavy rare earths side of the business. And we feel that Brazil is one of those few locations in the world that actually does have ionic clays as a known quantity.”
Watch the full interview with Stephen Burega, president of Appia Rare Earths and Uranium, above.
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