South Africa may get $1,2bn rare-earth metals plant

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South Africa may get $1,2bn rare-earth metals plant

Investor consortium Rare Metals Industries has launched a project intended at making titanium and other rare-earth metals complex in South Africa, which would charge between $1,2-billion and $1,5-billion.

The shareholders and partners in the project; the National Empowerment Fund, Industrial Development Corporation, Magnesium and Metals and, TJTI, have dedicated to evenly fund the R40-milllion for the prefeasibility cram for the project, which is at present happening.

The agreement amid the partners is planned in an unincorporated joint scheme, which would later be transformed into a shareholding company. RMI is a venture with South African, Russian and US investors.

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