Resouro inks MOU to fast-track Tiros titanium and rare earths project

Resouro Strategic Metals enters an MOU with the Minas Gerais State Economic Development Department and the Integrated Economic Development Institute
MOU signed by Resouro’s subsidiary accelerates development of Tiros titanium and rare earths project
The project, within the state of Minas Gerais in Brazil, has a maiden resource of 1.7b tonnes for 7% of the project

Special Report: Resouro Strategic Metals has inked a Memorandum of Understanding (MOU) with key institutions in the Brazilian state of Minas Gerais to fast track its large-scale Tiros titanium and rare earths project.

The MOU was signed by Resouro Strategic Metals’ (ASX:RAU) wholly owned subsidiary Tiros Minerais Estratégicos Mineração with the Minas Gerais State Economic Development Department and the Integrated Economic Development Institute (Invest Minas).

The Tiros titanium and rare earths project within Minas Gerais has a maiden resource estimate (MRE) of 1.7 billion tonnes for 7% of the project, making it already one of the world’s largest JORC combined rare earths and titanium deposits.

The new partnerships formalised by the MOU will enable Resouro to collaborate with Invest Minas to accelerate the project’s permitting, construction and mining.

The latest step forward for the company brings both Resouro and the State of Minas Gerais closer to their shared goal of developing a local supply chain for permanent magnets and titanium-based materials.

Other initiatives Invest Minas will undertake to support Tiros include:

facilitating contact with government agencies and suppliers;
collaborating to sustain investments in the supply chain for materials to produce permanent magnets and titanium-based composites in Minas Gerais;
assisting with forming bilateral connections and partnerships for local value chain investments; and
seeking partnerships and sector development.

‘A pivotal step’ forwards

Resouro’s executive chairman, Chris Eager, commented:

“The signing of this Memorandum of Understanding represents a pivotal step for the development of the Tiros project.

“Through our collaboration with Invest Minas and the State Secretariat for Economic Development, we will gain critical support in navigating regulatory processes, establishing strategic partnerships, and integrating with local suppliers and talent.

“This partnership will accelerate the project’s trajectory, bringing significant investments, creating jobs, and fostering a robust supply chain for titanium and rare earth materials in Minas Gerais.

“Together, we are driving sustainable growth and aiming to position the region as a global hub for critical minerals.”

Going for growth

With its ample potential for resource growth – as well as consistently high grades from close to surface – Resouro is also doing more exploration to both boost its understanding of Tiros and update the MRE.

The first infill drilling results received earlier this month boosted confidence in consistency of its shallow, high-grade mineralisation.

The company is now looking forward to the next batch of assays from the program, which will be used for future estimation of an updated MRE and a maiden ore reserve.

This article was developed in collaboration with Resouro Strategic Metals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.