Stans Energy Signs Partnership Agreement with Atomredmetzoloto JSC
TSX VENTURE: HRE
Toronto, Ontario (FSCwire) - Stans Energy Corp. (TSX-V: HRE, OTC: HREEF), ("Stans" or the "Company") is pleased to report that the company has entered into a memorandum of understanding (MOU) to partner with Atomredmetzoloto JSC (ARMZ). Together ARMZ and Stans (the “Parties”) will undertake a number of strategic initiatives in the specialty and energy metals industries.
ARMZ Uranium Holding Co. (JSC Atomredmetzoloto or the “Uranium Holding”) is the mining arm of ROSATOM State Atomic Energy Corporation, one of the leaders of the global uranium market. The Holding controls Russian uranium mining assets situated in the Trans-Baikal Territory, Republic of Buryatia, Kurgan region and Republic of Yakutia, in addition to other global assets. ARMZ concentrates on multi-year field development and unique competencies that enable ARMZ to perform a wide range of uranium projects – from geological exploration, development and design to reclamation of production facilities.
Stans and ARMZ have identified three specific areas of opportunity:
- Mine and process strategic metals used both in atomic and alternative energy sectors including rare, rare earth and precious metals.
- Jointly develop new technologies to mine, process and extract metals, as well as manufacture value added products.
- Share intelligence regarding ongoing projects and global joint business development opportunities.
Specifically Stans and ARMZ have agreed to focus on the following priority areas of cooperation:
- Joint development of Lithium projects both in Russia and globally. Together the Parties will evaluate the production of lithium carbonate and hydroxide. Stans will provide market intelligence and present opportunities for the development of new properties, the reconstruction/modernization of existing operations, including the manufacturing of end products. The Parties will first focus on the Zavitisnkoe lithium project in the Trans-Baikal region with the intent of processing spodumene concentrate at ARMZ subsidiary, Pre-Argun Mining Chemical Complex, in the City of Krasnokamensk.
- The Parties will explore the potential for joint marketing of scandium products and scandium-reinforced alloys through ARMZ owned DALUR CJSC.
- Joint development of gold projects. ARMZ will provide Stans with proposals and information on potential gold producing hard rock and tailings assets.
Together Stans and ARMZ will individually define functions and obligations for each individual project. The Parties will bear implementation and development costs based on their proportion of ownership.
“Stans and ARMZ partnering on these numerous strategic initiatives will provide Stans the opportunity to develop and exploit a pipeline of projects. The joint ownership structure of these projects will not only accelerate development times from a technical perspective but also provide the Company with a capable funding partner that will assist in raising capital. ” states Rodney Irwin, CEO and President.
About Stans Energy
Stans Energy Corp. is a resource development company focused on advancing rare and specialty metals properties and processing technologies. Stans is now transitioning into a supplier of materials and technologies that will assist in satisfying the future energy supply, storage and transmission needs of the world. Previously, the Company acquired, among other things, the right to mine the past producing rare earth mine, Kutessay II, in the Kyrgyz Republic. Due to the expropriation actions taken by the Government of the Kyrgyz Republic, the Company is undertaking international arbitration litigation to protect the Company’s rights and recover damages estimated at over US$210,000,000, caused by the Republic.