Food: ThyssenKrupp Metallurgical Products has signed a purchase agreement with the mining company Rainbow Rare Earths Limited. Under the ten-year agreement, the company assures the Materials Services Business Area to market 5.000 tonnes of rare earth concentrate and downstream products such as neodymium oxide, praseodymium oxide and lanthana per year. Rare earths are used, for example, in batteries, magnets or LED screens. With this off-take agreement, the commodity trading experts are the exclusive distribution partners of the Rainbow Rare Earths, which is engaged in the research and development of rare earths in Burundi, East Africa.

Kai-Norman Knötsch, CEO of ThyssenKrupp Metallurgical Products, explains: “We are looking forward to a successful collaboration with Rainbow Rare Earths. As the exclusive marketer of high-quality products, we have the opportunity to strengthen our customer relationships in the long term and also to gain additional market shares worldwide. "

Martin Eales, Managing Director of Rainbow Rare Earths, adds: “We are delighted that we were able to conclude the Offtake Agreement with ThyssenKrupp Metallurgical Products. A partner of this caliber is a great endorsement of our project and its potential as well as our ability to deliver high quality products. We look forward to a long-term, mutually beneficial business relationship with confidence. With the offtake agreement, we will continue to press ahead with our plans to start test mine production in the fourth quarter of 4. "

ThyssenKrupp Metallurgical Products GmbH is part of the Materials Services business area and is one of the world's leading trading houses for raw materials. The company bundles resources and technical know-how for almost all metallurgical fields of application. With excellent networking on the raw material markets, some exclusive marketing rights and seamless quality monitoring, the company ensures that its products have the best possible price-performance ratio. ThyssenKrupp Metallurgical Products is also the first choice for international customers thanks to the close cooperation with the LME (London Metal Exchange) and the expertise of its own competence center for metal hedging (CCMH), which is in demand throughout the Group. The services include product preparation and warehousing as well as trading in coke, coal and petroleum coke, selling a performance-enhancing smelting technology and trading in industrial gases, line-based energies, high-quality carbon products and industrial minerals. (Press release from 15.04.2015)

Source: ThyssenKrupp AG

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