Great Western Minerals Group's LCM Receives Rare Earth Metal Making Environmental Permit
March 05 2012 - 8:00AM
Marketwired
Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX
VENTURE:GWG)(OTCQX:GWMGF) is pleased to announce that GWMG's wholly
owned subsidiary Less Common Metals ("LCM"), located in Birkenhead,
United Kingdom, has been granted its environmental permit to carry
out electrolytic production of rare earth metals at LCM's new
Hooton Park location.
The permit, issued by the United Kingdom Environment Agency,
enables LCM to produce rare earth metals in accordance with the
highest of national environmental, health and safety standards.
Ian Higgins, Managing Director, Metals and Alloys at LCM said,
"The detailed design and production of the first two metal making
cells, which have now been received by LCM, was carried out by a
leading United Kingdom-based foundry technology company. The
initial trials of the metal making system are scheduled to commence
in May 2012. Our plan is to have six cells in full operation by the
end of 2012 at a level of production that will fully supply the
requirements for LCM's recently commissioned strip casting
furnace."
Jim Engdahl, President and Chief Executive Officer of GWMG said,
"The process of fused salt electrolysis of rare earth oxides to
metals increases the existing metal and alloy making capability at
LCM into bulk production of metals, principally for the permanent
magnet alloy business. This represents one more step toward GWMG
being the most fully integrated rare earth company in the world.
That, in turn, translates into additional self-sufficiency for our
production cycle and certainty of supply for GWMG's global
customers."
Great Western Minerals Group Ltd. is an integrated Rare Earths
processor. Its specialty alloys are used in the battery, magnet and
aerospace industries. Produced at the Company's wholly owned
subsidiaries Less Common Metals Limited in Birkenhead, U.K. and
Great Western Technologies Inc. in Troy, Michigan, these alloys
contain aluminium, nickel, cobalt and Rare Earth Elements. As part
of the Company's vertical integration strategy, GWMG also holds
100% equity ownership in Rare Earth Extraction Co. Limited, which
owns a 74% equity interest in the Steenkampskraal Mine. In addition
to an exploration program at Steenkampskraal, GWMG also holds
interests in four active Rare Earth exploration and development
properties in North America.
Certain information set out in this News Release constitutes
forward-looking information. Forward-looking statements (often, but
not always, identified by the use of words such as "expect", "may",
"could", "anticipate" or "will" and similar expressions) may
describe expectations, opinions or guidance that are not statements
of fact and which may be based upon information provided by third
parties. Forward-looking statements are based upon the opinions,
expectations and estimates of management of GWMG as at the date the
statements are made and are subject to a variety of known and
unknown risks and uncertainties and other factors that could cause
actual events or outcomes to differ materially from those
anticipated or implied by such forward-looking statements. Those
factors include, but are not limited to the successful
construction, commissioning and operation of the separation
facility, refurbishment activities and reliance on third parties to
meet projected timelines, the results of the exploration program at
Steenkampskraal, a resource estimate and commencement of production
at Steenkampskraal, satisfaction of the conditions precedent with
respect to GWMG's offtake agreement, receipt of all required
approvals (including those relating to the commencement of
production at the Steenkampskraal mine) and risks, uncertainties
and other factors that are beyond the control of GWMG, risks
associated with the industry in general, commodity prices and
exchange rate changes, operational risks associated with
exploration, development and production operations, delays or
changes in plans, risks associated with the uncertainty of reserve
or resource estimates, health and safety risks and the uncertainty
of estimates and projections of production, costs and expenses. In
light of the risks and uncertainties associated with
forward-looking statements, readers are cautioned not to place
undue reliance upon forward-looking information. Although GWMG
believes that the expectations reflected in the forward-looking
statements set out in this press release or incorporated herein by
reference are reasonable, it can give no assurance that such
expectations will prove to have been correct. The forward-looking
statements of GWMG contained in this News Release, or incorporated
herein by reference, are expressly qualified, in their entirety, by
this cautionary statement and the risk factors contained in GWMG's
current annual information form available at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Great Western Minerals Group Ltd. Jim Engdahl
President and Chief Executive Officer (306) 659-4500 209 Robin
Crescent Saskatoon SK, S7L 6M8 Great Western Minerals Group Ltd.
Dwight Percy Manager of Investor Relations (306)
659-4516info@gwmg.ca www.gwmg.ca
Great Western Minerals (CE) (USOTC:GWMGF)
Historical Stock Chart
From Jun 2024 to Jul 2024
Great Western Minerals (CE) (USOTC:GWMGF)
Historical Stock Chart
From Jul 2023 to Jul 2024