Greater Noida: Midwest Limited is pleased to announce that it has, together with Midwest Energy Limited and the Non-Ferrous Materials Technology Development Centre (“NFTDC”), signed a Memorandum of Understanding (“MoU”) with PT Perusahaan Mineral Nasional (Persero) (“PERMINAS”), Indonesia’s state-owned strategic minerals
enterprise.
This MoU establishes a framework for the parties to evaluate potential collaboration across the rare earth value chain in Indonesia, including upstream exploration and resource assessment, mining, processing, extraction, refining and downstream manufacturing in general and Rare earth magnet production in particular. This further opens up further opportunities in reluted ares.
This milestone reinforces Midwest Limited’s ongoing strategy to build a meaningful presence across the rare earth value chain, complementing its existing initiatives in the sector. It marks its first structured collaboration with a Southeast Asian state-owned strategic minerals enterprise.
Under the terms of this MoU, the parties shall establish a joint working group to plan and monitor the project implementation.
Scope of Each Party
Under the MoU, Midwest Limited, Midwest Energy Limited, and NFTDC will collaborate as a consortium, contributing complementary areas of expertise: Midwest Limited will contribute expertise in exploration, mine planning, environmental studies, mining and mineral processing operations, and the extraction and separation of rare earth clements. While Midwest Energy Limited will provide technology and operational expertise in establishing Rare earth Magnet manufacturing plant, NFTDC will provide technology, technical expertise and services across the value chain.
PERMINAS will provide access to critical minerals and rare earth resources for Joint Development in Indonesia.
