The Mongolian agent company has signed a letter of intent with GTSO and REE to assist in the marketing and development of a new licensed rare earth mine in Tuv province.
GTSO president and CEO John Shearer said that SGS will study the property’s mineral content as part of the joint venture’s due diligence.
Ar Erkhes, a trading and mining company in Mongolia, owns the rights to mine the property in Tuv.
If SGS delivers favorable mineral analysis reports, GTSO and REE will finance, market and develop the mine through an agreement with Ar Erkhes.
