Frontier Rare Earths Limited (TSX: FRO) (TSX: FRO.WT) announced today that it has signed a heads of agreement with Korea Resources Corporation (“KORES”), the Korean Government-owned mining and natural resource investment company, to form a strategic partnership designed to accelerate the development of Frontier's Zandkopsdrift rare earth project in South Africa. Under the terms of the agreement, which is non-binding, KORES will acquire up to a 20% interest in the Zandkopsdrift project as well as up to a 10% equity position in Frontier and the right to purchase up to 40% of Zandkopsdrift's rare earth production. The parties expect to sign a binding strategic partnership agreement in Q4 2011.
Continue reading
The post Frontier Rare Earths and Korea Resources Corporation Sign Strategic Partnership Agreement appeared first on InvestorIntel.