St George Mining (ASX:SGQ) will establish a technical co-venture with two scientific agencies in Brazil to develop a sustainable processing flow sheet to commercialize niobium and rare earth elements (REE) from the Araxa niobium-REE project in the South American country, according to a Thursday Australian bourse filing.
The firm signed a technical collaboration agreement for a period of 10 months from Jan. 1 with the Brazilian Association for Research and Industrial Innovation (EMBRAPII) and National Industrial Educational Services (SENAI).
The co-venture will focus on improving the process of separating REEs from niobium to produce commercial products. The firm and the agencies will collaborate through technical meetings, research studies, and test works, with ore samples from the project provided by St George.
The co-venture is expected to cost about AU$170,000, with St George funding 40%.
The mining firm expects to complete its acquisition of 100% of the Araxa project in the first quarter.
The firm's shares jumped past 14% in recent trade on Thursday.
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