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Medallion partners with Oman Oil subsidiary to evaluate rare-earth production in Oman

4:00 AM MDT | June 21, 2013 | Deepti Ramesh

Medallion Resources (Vancouver) says it has signed a memorandum of understanding (MOU) with Takamul Investment Co. (Muscat), a subsidiary of Oman Oil Co. (OOC; Muscat), to conduct studies investigating the viability of constructing and operating a monazite-based, rare-earth extraction facility at Duqm, Oman. A Duqm-based facility is fully aligned with Medallion’s production strategy, which is to exploit available supplies of the mineral by-product monazite from heavy-mineral-sand mines in the Indian Ocean basin in order to extract and produce significant...

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