Maaden inks term sheet to construct rare earth refining, separation facility in Saudi

Maaden says the binding term sheet is valid until March 31, 2027, unless the parties agree otherwise Saudi Arabian Mining Co. (Maaden) entered into a binding term sheet with MP Materials Corp. and Mountain JV, LLC.   The agreement, signed today, Nov. 19, outlined certain advisory and technical services, as well as the formation of a joint venture (JV) to establish, develop, and construct a rare earth element (REE) refining and separation facility in Saudi Arabia (the “Processing Facility”), according to a ...