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HUDSON RESOURCES AND NEO PERFORMANCE MATERIALS SIGN AGREEMENT ON THE SARFARTOQ RARE EARTH ELEMENT PROJECT IN GREENLAND
HUDSON RESOURCES AND NEO PERFORMANCE MATERIALS SIGN AGREEMENT ON THE SARFARTOQ RARE EARTH...
About this update from Neo Performance Materials, Inc.
[{"type":"text","content":"\n \n \n \n HUDSON RESOURCES AND NEO PERFORMANCE MATERIALS SIGN AGREEMENT ON THE SARFARTOQ RARE EARTH ELEMENT PROJECT IN GREENLAND\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n The Project is expected to have a very small environmental footprint, is located close to excellent infrastructure, and features a highly enriched rare earth mineralization in elements required for permanent magnets\n \n \n \n \n Investment represents a key step in Neo's Magnets-to-Mine vertical integration strategy and its plans to expand into rare earth permanent magnet manufacturing in\n \n Europe\n \n \n \n \n \n \n VANCOUVER, BC\n \n and\n \n TORONTO\n \n \n ,\n \n \n Aug. 22, 2022\n \n \n /CNW/ -\n \n HUDSON\n \n RESOURCES INC. (\"\n \n \n Hudson\n \n \n \" or the \"\n \n Company\n \n \") (TSXV: HUD) (OTC: HUDRF) and Neo Performance Materials Inc. (\"\n \n Neo\n \n \"), (TSX: NEO.TO) are pleased to announce that the parties have executed a binding agreement (\"\n \n Agreement\n \n \") whereby Neo will acquire from\n \n Hudson\n \n an exploration license (\"\n \n License\n \n \") covering the Sarfartoq Carbonatite Complex in southwest\n \n Greenland\n \n (the \"\n \n Project\n \n \").  The Project hosts a mineral deposit that is enriched in neodymium and praseodymium, two essential elements for rare earth permanent magnets used in electric vehicles, wind turbines, and high-efficiency electric motors and pumps that help reduce greenhouse gas emissions.\n \n \n Located just 60 kilometers from the international airport in Kangerlussuaq, the Project is close to tidewater and a major port facility and is directly adjacent to some of the best hydroelectric potential in Greenland.\n \n \n Neo, through a special purpose entity (\"\n \n SPE\n \n \"), plans to explore and develop the Sarfartoq Project to further diversify its global sourcing of rare earth ore and to expand the rare earth supply chains that feed Neo's rare earth separation facility in Estonia.  That facility was recently awarded a Gold Medal for it...