Tertiary Minerals #TYM of the UK has signed a memorandum of understanding with Possehl, which will see the German-based Possehl take at least 70% of commercial grade acidspar produced at Storuman in Sweden; Lassedalen in Norway; and MB in Nevada.
Possehl will provide funds to develop the deposits and for any acquisitions Tertiary may make to bulk them up. Tertiary will also receive logistics and infrastructure support from the German group while the projects are developed.
Possehl is headquartered in Lübeck, northern Germany, employs 1,800 people and shipped over 10Mt of commodities in 2016. The memorandum will be effective until one of Tertiary’s fluorspar projects has been in production for a year or a formal off-take agreement is signed.
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