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Regions :: Middle East

Canada's Medallion Resources and Arab Mining sign deal to explore rare-earth processing JV in Oman

9:56 AM MDT | July 11, 2013 | Francinia Protti-Alvarez

Medallion Resources (Vancouver) has signed a non-binding memorandum of understanding (MOU) with Arab Mining Co. (Amman), a Pan-Arab mining-industry investment firm. The MOU provides Medallion and Arab Mining with a proposed joint venture framework for evaluating secondary, rare-earth opportunities within the Arab League region, including a proposed rare-earth processing facility at Duqm, Oman. The agreement grants Arab Mining, for a period of six months, the exclusive right to negotiate terms to invest or participate in a jv majority-owned by Medallion. The...

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