Great Western Makes Good Progress With Steenkampskraal Rare Earth Project
Great Western Minerals (CVE: GWG, OTC: GWMGF, FFT: GWM) is making good progress with the development of the Steenkampskraal Rare Earth Project in South Africa.
Talks to establish a joint venture with the Ganzhou Qiandong Rare Earth Group (GQD) to build a separation plant on Steenkampskraal are ongoing. Agreement was reached on several points and the companies are currently working on detailed investment plans.
The joint venture is called Great Western GQD Rare Earth Materials Co. Great Western will hold an 75% stake and GQD will hold the remaining 25%.
The rehabilitation of the former producing shaft on Steenkampskraal is proceeding according to plan and should be completed in December 2011.
Great Western plans to commence underground mining in the first quarter of 2012 and strives to be a full-time producer of rare earths by the very beginning of 2013.
Completion of the new NI43 101 compliant resource estimate for Steenkampskraal is expected in the first half of 2012.
