STOCKHEAD: RareX secures support from Noble Group subsidiary Talaxis

RareX has received a vote of confidence from Talaxis, which will become a strategic partner and shareholder to help drive development of its Cummins Range rare earths project.

Talaxis, a specialist rare earths project developer and wholly-owned subsidiary of Noble Group, will leverage its extensive experience and relationships to assist RareX (ASX:REE) with securing offtake, financial partners and strategic investors to develop the project.

Noble Group is Asia’s leading independent energy products and industrial raw materials supply chain manager. It operates in 50 countries with annual revenues of more than $US2.5bn ($3.8bn).

“I am extremely pleased to have attracted such a high-quality partner in Talaxis to develop our flagship Cummins Range rare earths project into what is expected to be booming demand for rare earths,” managing director Jeremy Robinson said.

Noble Group head of technology metals Daniel Mamadou believes that the project has the potential to be a world-class rare earths project...