Talaxis, the technology metals-focused wholly-owned subsidiary of Noble Group Holdings has entered a MoU with Chinalco Guangxi Nonferrous Rare Earth Development Co to further their cooperation in sourcing, development and production of rare earths.

The agreement underscores Noble’s broader commitment to this increasingly important commodity and its support for Asia’s transition to a low-carbon future, coupled with its strong relationships with leading customers in the region.

Read more about the environment

Daniel Mamadou, executive director of Talaxis comments:

“This agreement with Chinalco represents the potential for a significant offtake contract in the growing rare earths sector.

“Our strategic long-term collaboration with one of Asia’s leading metals companies will help to further strengthen Talaxis’ position as the supply partner of choice in the technology metals industry.

“Through this partnership Talaxis has the capability to support the ongoing security of supply globally while leveraging Noble’s logistics management expertise to transport the commodities that will support the transition to a low-carbon future.”

Chinalco Guangxi Rare Earth comments:

“This agreement is an important development and we look forward to accelerating cooperation under the MoU.

“It has the potential to diversify our supply of rare earth products, and we are well placed to assist Talaxis with its projects and to cooperate on best metallurgical process to maximise recovery rates.

“Chinalco Guangxi continues to be positioned to support decarbonisation and to benefit from the growth of the electric vehicle market.”