Blackstone Minerals has signed a tripartite memorandum of understanding with Vietnam Rare Earth and Australia Strategic Materials to develop a fully integrated rare earth metal value chain in Vietnam. VTRE owns and operates the only midstream rare earth refinery in Vietnam, and is a strategic partner in developing upstream mining and processing capabilities. ASM is an emerging manufacturer of advanced and clean technology critical metals with extensive knowledge of downstream processing and the rare earth market. Blackstone has a domestic team with extensive experience in upstream mining and processing in the rare earth region of northwestern Vietnam.

According to the memorandum of understanding, VTRE and ASM have agreed to collaborate on certain initiatives and plan to sign further binding agreements. Blackstone and VTRE will evaluate existing license concessions and seek mining licenses under joint venture arrangements, with a focus on the Dong Pao deposit.

VTRE will be granted access to Blackstone's laboratory and pilot facilities for the Ta Khoa nickel mine project in Ban Phuc Nickel Mines. ASM will provide technical assistance to assist in the pilot flotation plan for rare earth concentrate beneficiation at the Dongbao deposit.

Scott Williamson, Managing Director of Blackstone Minerals, stated that you rarely find potential partnerships where both parties' strategic advantages and core competencies complement each other. For Blackstone, Vietnam's potential to enter the rare earth field aligns with our technology mining strategy and has synergies with our Ta Khoa project and our existing relationships in the electric vehicle industry.

Through this memorandum of understanding, Blackstone, VTRE, and ASM will advance discussions with a view to establishing a world leading fully integrated rare earth business. According to Blackstone Inc., Vietnam has the world's largest rare earth reserves outside China, most of which are located in the northwest of Vietnam.Editor/XingWentao