Canadian, Australian Miners Join Forces in Rare Earths Project

Canada’s Avalon Advanced Materials (Avalon) and Australia’s Cheetah Resources (Cheetah) announced this week that they have joined forces to work on the development of the rare earth resources on the Nechalacho project near Yellowknife, Northwest Territories. The companies signed a binding terms sheet under which Cheetah will acquire ownership of near surface resources in two project zones for a total cash consideration of C$5 million, while Avalon will retain ownership of the resources in a third zone. Avalon is a mining company based in Toronto that specializes in critical metals and minerals with growing demand in new technologies.

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