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Innovation Metals signs LOIs for rare earths project in Quebec

1:22 PM MDT | June 24, 2013

Innovation Metals Corp. (IMC; Toronto) says it has entered into nonbinding letters of intent (LOIs) with three rare earth exploration and development companies for the toll processing of mixed rare earth element (REE) concentrates. The concentrates will be separated into high-purity rare earth oxides (REOs) and other compounds at an REE separation facility planned at Becancour, PQ. They will toll feedstock concentrates rich in critical middle and heavy REEs, as well as neodymium (Nd), a critical light REE. In addition to the three new LOIs, IMC has an existing...

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