Midwest signs MoU with Indonesia's PERMINAS for rare earth minerals
MIDWESTLTD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Midwest Limited, along with group firm Midwest Energy Limited and NFTDC, has signed an MoU with PT Perusahaan Mineral Nasional (PERMINAS), Indonesia's state-owned strategic minerals enterprise. The partnership aims to collaborate across the rare earth value chain in Indonesia, covering exploration, mining, processing, extraction, refining, and rare earth magnet production. No monetary commitment has been disclosed at this stage. Midwest Energy is a related party as part of the promoter group.
Positive sentiment as company enters Southeast Asian strategic minerals space with a state-owned partner. However, it is only an MoU with no financial commitment yet.